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| Crown Central Petroleum Extends Credit Facility |
BALTIMORE, June 5 /PRNewswire/ -- Crown Central Petroleum Corporation
announced that it has extended its $125 million secured credit facility to
January 10, 2004. The facility, which was set to expire on June 10, 2003, is
agented by Congress Financial Corporation and is used for general corporate
and working capital purposes.
Crown Central announced in January 2003 that it had retained the services
of Park Avenue Equity Management, LLC to assist it in the disposition of all
or substantially all of the Company's assets, either as a single entity or in
separate transactions which would include its service stations and convenience
stores, terminals and refineries; these efforts are continuing.
Headquartered in Baltimore, Maryland since 1930, Crown operates two Texas
refineries with a total capacity of 152,000 barrels per day, 314 Crown
gasoline stations and convenience stores in the Mid-Atlantic and Southeastern
United States, and 10 product terminals along the Colonial, Plantation and
Texas Eastern product pipelines.
SOURCE Crown Central Petroleum Corporation
back to topCONTACT:
Institutional Inquires: JOHN E. WHEELER,
JR., Executive Vice President and Chief Financial Officer,
+1-410-659-4803, or Other Inquiries: ANDREW LAPAYOWKER, General
Counsel and Corporate Secretary, +1-410-659-4834, both of Crown
Central Petroleum Corporation
