CHANCELLOR CHAIRMAN & CEO TELLS CNNfn
INNOVATION IS KEY TO COMPANY'S FUTURE GROWTH
Boston, MA -- March 10, 1999: Chancellor Corporation (OTC BB: CHLR) Chairman and CEO Brian M. Adley said that innovation is key to the Company's growth during his appearance last night on CNNfn's Business Unusual program.
Commenting on Chancellor's activities in the rapidly expanding transportation equipment leasing industry, Adley explained, “Our turnaround and growth prospects are the result of innovative positioning and marketing which have been key to corporate success stories in a variety of other industries. One such example is Sam Walton's achievements at Wal-Mart.
“If you look at Chancellor as just a fleet management and financing company, you would miss that we offer total holding cost solutions to our customers - something that is unique to our industry,” Adley added. “Leasing is simply a financial tool to facilitate our customers' growth and enable their businesses to perform stronger cash flow management. The equipment leasing market last year was a $6 billion industry in trucks and trailers alone.”
The Company is driving innovation through its “Total Holding Cost” approach to financing transportation equipment. Through the introduction of its “wholesale plus” residual value pricing, Chancellor offers tremendous cost savings to its customers on the acquisition of new equipment. By operating its own retail sales centers, offering shorter lease terms, and providing other ancillary services such as fuel management and maintenance programs, the Company is delivering added value to its customers. As Chancellor further expands and develops its retail sales center network, the Company will control the useful life of its leased equipment and maximize its value.
Chancellor Corporation is changing the equipment leasing business through innovative financing and fleet management programs which reduce customers' total holding costs and significantly improve fleet management through asset management, equipment maintenance, fuel management, and data management strategies. Since its founding in 1977, Chancellor has completed a total of approximately $1.5 billion in equipment lease transactions for its Fortune 500 and middle market customers in the U.S. and international markets, including South Africa and the CIS. Chancellor is a fleet management and transportation equipment leasing firm headquartered in Boston. The Company's Internet address is chancellorcorp.com. The Company is publicly traded under the symbol “CHLR.”
"Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:
This release contains statements that are not historical facts and that may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risks and uncertainties, including, without limitation, demand and competition for the Company's lease financing services and the products to be leased by the Company, the continued availability to the Company of adequate financing, the ability of the Company to recover its investment in equipment through remarketing, and other risks and uncertainties detailed in the Company's Securities and Exchange Commission filings.
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