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WALL STREET FINANCIAL CORP. ANNOUNCES ACQUISITION

 HONOLULU, Feb. 16 /PRNewswire/ -- Wall Street Financial Corp. (OTC Bulletin Board: WSFC) (WSFC) announced the acquisition of 100 percent of Pacific Wave Technology Partners for 800,000 shares of Wall Street Financial Corporation common stock valued at $1.25 per share.
 Pacific Wave Technology Partners is a Hawaii-based corporation which provides high quality personal brand-name computer products to U.S. and foreign buyers in more than 130 countries. It provides customer service for more than 12,000 products it carries and is an authorized dealer for IBM, NEC, Toshiba, AST, Canon, Epson and Panasonic.
 Key customers include the U.S. government and the governments of four other countries, many of the Fortune 500, and many city and state governments. Foreign buyers make up the bulk of the customer base and gross profit margin with the majority of foreign customers from Japan, Saudi Arabia, Kuwait, Singapore, Germany, Australia and the United Kingdom. Audited total revenues for 1992 are expected to be $9,500,000, with a gross profit of $1,225,500 and a net profit of $314,500.
 Wall Street Financial Corp. will infuse $100,000 into Pacific Wave Technology Partners to expand current operations and existing management has agreed to a three-year contract to insure continuity of operations.
 Wall Street Financial Corp. is a progressive holding company whose goals are to cultivate sustained growth and profitable operations through ongoing mergers and acquisitions in the areas of food, technology and real estate.
 -0- 2/16/93
 /CONTACT: Financial Telesis Investor Relations, 808-734-3480/
 (WSFC)


CO: Wall Street Financial Corp.; Pacific Wave Technology Partners ST: Hawaii IN: CPR SU: TNM

KJ -- LA009 -- 6825 02/16/93 10:52 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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