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U.S. LEASING COMPLETES CHRYSLER RAIL ACQUISITION

 SAN FRANCISCO, Feb. 1 /PRNewswire/ -- United States Leasing International Inc. (USL) today announced the acquisition of approximately 3,900 rail cars from Chrysler Rail Transportation in a $116.4-million transaction,$143 million. This transaction completes the acquisi tion of nearly 8,300 rail cars -- the majority of Chrysler's rail fleet -- and nearly doubles USL's owned and managed rail assets to 17,000 cars, Duff said.
 In the agreement, a variety of lumber cars, coal cars, grain cars and other rail cars are being acquired.
 U.S. Leasing is a member of the Ford Financial Services Group and manages assets of approximately $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.
 "The cars being acquired are relatively new," said Peter M. Jones, president of U.S. Rail Services. "This helps preserve U.S. Leasing's position as having the youngest rail fleet in the leasing industry."
 As a result of the purchase, he added, U.S. Leasing secures a substantial customer base and diversifies its rail fleet by moving into specialized, targeted markets.
 -0- 2/1/93
 /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. ST: California IN: AUT TRN SU: TNM

TM-GT -- SF006 -- 1437 02/01/93 13:51 EST
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Publication:PR Newswire
Date:Feb 1, 1993
Words:266
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