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USTRAILS ANNOUNCED ACCEPTANCE OF 2,800,000 SHARES IN THOUSAND TRAILS TENDER OFFER

 USTRAILS ANNOUNCED ACCEPTANCE OF 2,800,000 SHARES
 IN THOUSAND TRAILS TENDER OFFER
 DALLAS, May 26 /PRNewswire/ -- In connection with its tender offer for up to 2,800,000 shares of Thousand Trails, Inc. (NASDAQ-NMS: TRLS), USTrails Inc. (OTC) announced today that it has accepted 2,800,000 of the tendered shares.
 Pursuant to the offer, which expired Friday, May 22, shareholders tendered approximately 5,512,828 shares. The specific shares accepted will be determined as follows. First, USTrails will accept all validly tendered shares not withdrawn of each shareholder who beneficially owned as of April 24, 1992 an aggregate of less than 100 shares. Second, USTrails will accept other validly tendered shares not withdrawn on a pro rata basis (with appropriate adjustments to avoid the purchase of fractional shares) so that USTrails purchases an aggregate of 2,800,000 shares pursuant to the offer.
 USTrails anticipates that it will announce the proration factor for shareholders owning 100 or more shares and deposit with the Depositary, American Stock Transfer and Trust Company, the aggregate purchase price for the accepted shares on or before June 3, 1992.
 The Depositary anticipates mailing tendering shareholders their checks for shares accepted and their stock certificates for shares not accepted before June 23, 1992.
 Shareholders may obtain preliminary information concerning the proration factor and other information concerning the offer from the information agent, Allen Nelson & Co., Incorporated, telephone 206-938-5783. Shareholders may call collect.
 Shares that USTrails does not own will continue to trade on the NASDAQ National Market System.
 Consummation of the tender offer will satisfy a condition to the previously announced exchange of certain senior subordinated notes of Thousand Trails for Additional Secured Notes of USTrails.
 Upon consummation of the tender offer, USTrails will own 80 percent of the outstanding shares of Thousand Trails. Thousand Trails operates a network of 39 campgrounds in 15 states and British Columbia, Canada. USTrails also owns 100 percent of the shares of National American Corporation, which operates a network of 30 campgrounds and 8 full- service resorts.
 -0- 5/26/92
 /CONTACT: Susan A. Seiter of Susan Seiter Associates, 817-488-3142, for USTrails; Walter B. Jaccard of Thousand Trails, 206-455-3155, or
 (TRLS) CO: USTrails Inc.; Thousand Trails Inc. ST: Texas IN: SU:


TS -- NY014 -- 3626 05/26/92 09:06 EDT
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Publication:PR Newswire
Date:May 26, 1992
Words:382
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