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TRANSCISCO INDUSTRIES ANNOUNCES ITS INTENTION TO BLOCK INVOLVEMENT BY ALLEN Z. WOLFSON IN THE COMPANY

 SAN FRANCISCO, April 26 /PRNewswire/ -- Transcisco Industries Inc. (AMEX: TNIA & TNIB) today announced its intentions to thwart any efforts by Allen Z. Wolfson to in any way be involved with Transcisco.
 Transcisco's comments came in response to a press release issued April 20 by Logos International Inc. in which Logos indicated that "key members of Transcisco have threatened the completion of this transaction because of Wolfson's involvement in Logos." Transcisco responded by noting that its personnel did not threaten Logos involvement, but did indicate it would not be involved with Wolfson or companies in which Wolfson has influence or control. This arises because of Wolfson's long history of securities and bank fraud and his current status as a probationer in conjunction with a 1987 conviction. The company noted that it had reviewed the rather extensive information easily available from public sources and had also reviewed Wolfson's record and current probation status with law enforcement representatives. "Clearly," said a company spokesman, "this is not a person with which we wish to have any involvement!"
 On April 21, Transcisco announced it had reached agreement with the various parties at interest in its Chapter 11 bankruptcy and, subject to filings, voting and confirmation of its plan, expects to emerge from bankruptcy around the end of July. Steven L. Pease, Transcisco's president, noted that "the delicate status of the company makes it even more important than would normally be the case, that the company have no involvement with Mr. Wolfson." He noted that not only might the members of the Creditor's Committee withdraw their support for the proposed plan of reorganization, he also believed it would be extremely difficult to attract and retain high-caliber employees, officers and directors if they believed that the company's largest shareholder was associated with or controlled by someone of Wolfson's background. Pease also felt that customers, vendors, auditors and others with whom Transcisco must work on a day-to-day basis would have similar views. While he could not speak for other officers and directors, he noted that he would tender his resignation if Wolfson is in any way involved with Transcisco.
 The company noted that shortly after the Logos press release, representatives of Logos had spoken with Transcisco's counsel about steps to completely separate Logos from Wolfson. Those steps are expected to include terminating Wolfson's consulting agreements (through his Company A-Z Professional Consultants Inc.) with all of the numerous companies affiliated with Wolfson and Logos, moving the Logos headquarters to Southern California and the recruitment of a qualified slate of officers and directors that would pass appropriate background checks of their business history. Since that time, Logos has terminated Wolfson as a consultant to Logos, but has not disclosed any other plans to remove the cloud of Wolfson from Logos, Canton or any of the other multiple interlocking companies Wolfson has assembled.
 "We expect Logos to sever all ties with Mr. Wolfson. If they do not do so, the company intends to work vigorously to block Mr. Wolfson's actions," said a company spokesman.
 Transcisco Industries operates railcar maintenance and retrofitting operations through its subsidiary, Transcisco Rail Services, and operates a railcar leasing business through its subsidiary, Transcisco Leasing. Its subsidiary, Transcisco Trading, owns 20 percent of SOVFINAMTRANS (SFAT) a successful Russian railcar leasing joint venture that operates approximately 3,000 tank cars in Russia, of which 1,000 utilize Transcisco's proprietary "Unitemp" heating technology.
 -0- 4/26/93
 /CONTACT: Robert W. Laversin, vice president and chief financial officer of Transcisco, 415-477-9700/
 (TNIA TNIB)


CO: Transcisco Industries Inc. ST: California IN: TRN SU:

ML-SG -- SF015 -- 1013 04/26/93 17:31 EDT
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Date:Apr 26, 1993
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