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TRANS-NATIONAL LEASING SHAREHOLDERS VOTE MERGER APPROVAL; THE ASSOCIATES TO COMPLETE TRANSACTION ON DEC. 23

 DALLAS, Dec. 22 /PRNewswire/ -- Shareholders of Trans-National Leasing, Inc. (OTC: TNLS) today approved the previously announced merger of Trans-National with an affiliate of Associates Corporation of North America, the two companies announced. The Associates said it would complete the transaction on Dec. 23, 1992, and acquire all of Trans- National's outstanding stock for $4.25 cash per share. The transaction is valued at $6.1 million.
 The board of directors of Trans-National recommended shareholder approval. Approximately 70 percent of the stock is owned by the Maher families, who voted for the merger at the shareholders' meeting and will sell their shares to The Associates.
 Trans-National, based in Dallas, is primarily a lessor of vehicles on a nationwide basis for corporate fleets. It has leases on approximately 7,000 vehicles.
 The Associates, also based in Dallas, is part of the Financial Services Group of Ford Motor Company (NYSE: F). Its subsidiary, Associates Leasing, Inc., is one of the nation's leading lessors of corporate vehicle fleets.
 -0- 12/22/92 R
 /CONTACT: Fred Stern of Associates Corporation of North America, 214-541-4042/
 (TNLS)


CO: Trans-National Leasing, Inc. ST: Texas IN: AUT SU:

WB -- NY040R -- 9259 12/22/92 16:03 EST
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Publication:PR Newswire
Date:Dec 22, 1992
Words:198
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