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Tyler Corporation Announces Sale Of Subsidiary

17 October 1997

Tyler Corporation Announces Sale Of Subsidiary

    DALLAS, Oct. 17 --  Today, Tyler Corporation
announced the sale of its school fund-raising subsidiary, Institutional
Financing Services, Inc. ("IFS").  The transaction is expected to result
in payments to the company of approximately $8.0 million to be received over
three months.
    The transaction will result in a loss from sale of discontinued operations
of approximately $2.0 million.  IFS has not prospered over the last four
years.  And is not seen as a fit for the strategic future of the company.
    Commenting on the announcement, C. A. Rundell, Jr., President and Chief
Executive Officer, stated "The divestiture of IFS facilitates the focus on our
core businesses. Additionally, the sale allows the redirection of capital to
growth areas within the company."
    Tyler Corporation, founded in 1966, has corporate offices in both Dallas
and Houston.  In addition to the pending information management business
acquisitions announced, the company operates in the retail automotive parts
business.

SOURCE  Tyler Corporation