OTHER NEWS - Oct. 22, 1996

Finova to Sell Unit to Green Tree: Finova Group Inc. said it will sell a small-business equipment financing unit to Green Tree Financial Corp. for about $610 million. The purchase price reflects a premium of about $58 million over the book value of the assets of the unit, called Manufacturer & Dealer Services, Finova said. The unit works with manufacturers of telecommunications, office, computers, commercial laundry and automotive diagnostics equipment to provide leasing to small businesses. Phoenix-based Green Tree Financial, whose main business is lending to mobile-home buyers, said the acquisition would put the St. Paul, Minn.-based company “among the top providers of equipment leasing programs in the U.S.” Green Tree shares gained 62.5 cents at $41.875, while Finova shares lost 25 cents at $62.25. Both trade on NYSE.