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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported) April 22, 1996
Commission File Number 0-25104
CONTINENTAL INFORMATION SYSTEMS
CORPORATION
(Exact name of registrant)
New York 16-0956508
(State of organization) (I.R.S. Employer Identification Number)
One Northern Concourse, P.O. Box 4785, Syracuse, New York 13221-4785
(Address of principal executive offices and zip code)
(315) 455-1900
(Registrant's telephone number)
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ITEM 5. OTHER EVENTS
Continental Information Systems Corporation incorporates
herein by reference the information contained in the press release filed as
Exhibit 99 to this Current Report.
ITEM 7. EXHIBITS
Sequentially
Exhibit No. Numbered Page
- ----------- -------------
99 Press Release by Continental Information Systems
Corporation dated April 22, 1996, announcing
financing facility and vendor program . . . . . . . . . . 4
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<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
CONTINENTAL INFORMATION SYSTEMS
CORPORATION
BY: /s/ Frank J. Corcoran
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Frank J. Corcoran
Senior Vice President,
Chief Financial Officer
and Treasurer
Dated: April 24, 1996
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EXHIBIT 99
FOR IMMEDIATE RELEASE
For Further Information Contact:
Frank J. Corcoran
Senior Vice President and Chief Financial Officer
(315) 455-4882
CONTINENTAL INFORMATION SYSTEMS CORPORATION
ANNOUNCES FINANCING FACILITY AND VENDOR PROGRAM
SYRACUSE, NEW YORK, April 22, 1996 -- Continental Information Systems
Corporation (NASDAQ - CISC) today announced it has finalized a $5 million
revolving loan agreement with the Vendor Finance Division of Heller Financial,
Inc. The agreement represents a commitment to provide warehouse and term
financing facilities for the Company's lease origination activity.
The Company also announced it has entered into a vendor program with C-Cam
International, a Tulsa, Oklahoma based manufacturer of intermodal containers.
The Company will provide lease financing for C-Cam containers leased to major
shippers of chemicals and other liquid commodity products. Under the program,
the Company expects to finance in excess of $10 million of new lease
originations over the next two years.
Continental Information Systems Corporation is engaged in the business of buying
and selling telecommunications equipment, printing systems, and commercial
aircraft, and providing leasing services in connection with such equipment, and
certain other industrial equipment.
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