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THRIFTY TEL INC. ANNOUNCES THE APPROVAL OF DISMISSAL FROM CHAPTER 11

THRIFTY TEL INC. ANNOUNCES THE APPROVAL OF DISMISSAL FROM CHAPTER 11
 LOS ANGELES, Dec. 13 /PRNewswire/ -- Thrifty Tel Inc. (OTC: THRFQ), a long distance telephone service company, today announced the court approval for the company to be dismissed and relieved from its chapter 11 case filed on Dec. 8, 1989.
 On Dec. 10, 1991, the United States Federal Bankruptcy Court granted the company's "Motion to Dismiss" from chapter 11. The motion to dismiss was granted due to the company's substantially improved financial condition, continued profitability and its ability to cure 100 percent of its pre-chapter debts.
 During the company's period of reorganization, its monthly subscriber base has increased from 3,889 at Dec. 8, 1991, to 9,824 at Dec. 10, 1991. The company has reported seven consecutive profitable quarters ended Aug. 31, 1991 and has continued to increase sales at a rapid pace.
 Revenue for the three-month period ended Aug. 31, 1991 reached $2,899,053, an increase of $1,102,257 over revenue of $1,796,796 reported in the comparable prior-year period. Net income totaled $194,162 compared to net income of $137,409 for the same prior-year period.
 The company reported a weighted average of 20,167,419 shares outstanding or earnings of $.01 per share for the current three-month period compared to earnings of $.007 per share for the comparable prior-year period.
 Gross profit improved to $900,398 for the period compared to $562,621 for the prior period ended Aug. 31, 1990.
 Thrifty Tel Inc. is a long distance telephone service company headquartered in Garden Grove, Calif. with additional sales and marketing facilities located in Sherman Oaks, San Bernardino and San Diego, Calif. The company offers digital fiber optic quality service at extremely competitive rates and is approved by the California Public Utilities Commission.
 -0- 12/13/91
 /CONTACT: Rebecca J. Bigley of Thrifty Tel, 714-740-2880/
 (THRFQ) CO: Thrifty Tel Inc. ST: California IN: UTI SU:


SE-KJ -- LA001 -- 2256 12/13/91 09:03 EST
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Date:Dec 13, 1991
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