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U.S. TRANSPORTATION SYSTEMS, INC. ANNOUNCES FINANCING COMMITMENTS WITH CIT GROUP

 NEW YORK, July 28 /PRNewswire/ -- U.S. Transportation Systems, Inc. (NASDAQ: USTS) announced that it has signed a financing agreement with CIT Group, a division of Dai-Ichi and Chemical banks. The closing has been set for September 10.
 The agreement, which is for a period of three years provides USTS with a $3.5 million term loan as well as a $1 million revolving line of credit. The terms of the agreement offer USTS more than double its current line of credit at a substantially lower interest rate.
 "This agreement with CIT affirms the marketplace's strong confidence in USTS and assumes our continued growth in the future" stated Michael Margolies, CEO of U.S. Transportation. "We plan to use the funds for our future growth needs, expansion and acquisition of other companies in the transportation and entertainment industries."
 U.S. Transportation Systems, Inc., is a multi-faceted transportation and entertainment company specializing in the operation and management of transportation systems for private industry, municipalities and airports throughout the United States, as well as the sale of tickets for theater and other entertainment events.
 -0- 7/28/93
 /CONTACT: Terry Watkins, chief financial officer of U.S. Transportation Systems, Inc., 419-476-9600/
 (USTS)


CO: U.S. Transportation Systems, Inc.; CIT Group ST: New York IN: TRN SU:

LD-OS -- NY111 -- 6942 07/28/93 17:00 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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