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U.S. LEASING ACQUIRES CHRYSLER RAIL PORTFOLIO

U.S. LEASING ACQUIRES CHRYSLER RAIL PORTFOLIO
 SAN FRANCISCO, Sept. 30 /PRNewswire/ -- United States Leasing International Inc. (USL) today announced the acquisition of more than 4,400 rail cars from Chrysler Rail Transportation in a $143-million transaction, according to J.G. Duff, USL chairman and chief executive officer.
 In the agreement, a variety of covered hoppers, tank cars and other rail cars similar to those in U.S. Leasing's present fleet are being acquired. The acquisition will increase USL's owned and managed rail assets by nearly 50 percent, Duff said.
 U.S. Leasing is a member of the Ford Financial Services Group and manages assets of more than $7 billion. Headquartered in San Francisco, it is one of the nation's largest and most diversified equipment leasing and financing organizations, with significant operations in most major equipment markets. U.S. Leasing's rail car fleet is managed by the company's U.S. Rail Services division.
 Chrysler Rail Transportation Corp. is a subsidiary of Chrysler Capital, in turn a subsidiary of Chrysler Financial Corp.
 As a result of the purchase, U.S. Leasing secures a substantial customer base. More than 98 percent of the acquired rail car stock is currently on lease and in service.
 "We expect U.S. Rail Services to become an important player in this market over the next few years," said Duff, "and this acquisition represents a move toward that goal."
 -0- 09/30/92
 CONTACT: Bill Selover of U.S. Leasing, 415-627-9578; or Bob Heath of Chrysler Financial, 313-948-3890 CO: U.S. LEASING INTERNATIONAL INC.; CHRYSLER RAIL
 TRANSPORTATION CORP.; CHRYSLER FINANCIAL CORP.


IN: TRN ST: CA,MI -- SF009 -- X654 09/30/92
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Publication:PR Newswire
Date:Sep 30, 1992
Words:274
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