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Chancellor Corporation Appoints Peter Lynch as Consultant
Released_By: USANews
Date: 6/27/98
Time: 2:34:35 AM
For_Immediate_Release
A Spokesperson for CHANCELLOR CORPORATION (CELR), the holding company for
U.S. HERITAGE, announced today that Mr. Peter Lynch has been retained by the
Company as a consultant to the Corporation, and will be assigned the task of
overseeing its "CHINA" Lottery Venture. Mr. Lynch is currently president of PDL
Consulting, an independent consulting firm specializing in government affairs
and finances. Their clients include manufacturers and suppliers of Lottery
related products and services to government lotteries in the U.S. and around the
world.
Chancellor Corporation welcomes Mr. Lynch aboard. His background includes 25
years of experience and knowledge of lottery operations throughout the world.
During his tenure as Director of the New York State Lottery from 1989 - 95, he
oversaw an impressive increase in sales and profits by over 100%. While at the
helm, he witnessed their 1995 sales rise to over $3 billion, and profits
increase to an astounding $1.26 billion.
The new Lottery operations will begin initially in Beijing, China with 5
drawings per week. The first lotteries will be based on televised horse racing
results within China. This is the only approved sports lottery to run through
betting shops in Beijing besides the government.
Chancellor Corporation, a publicly traded American company, is listed on the
OTC-Bulletin Board under the symbol of "CELR".
Details of the lottery agreement are listed on the Internet at Geraldsnet
Stock Research Network.
http://www.geraldsnet.com
For more information, contact: GERALD COMMUNICATIONS Gerald Sterchi -Director
Investor Relations (916) 854-4931 Fax (916) 983-7783 E-Mail:
gerald@geraldsnet.com
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