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 FOURTH QUARTER CHARGE


SYRACUSE, NEW YORK, June 5, 1996 -- Continental  Information Systems Corporation
(NASDAQ - CISC)  disclosed  that it has abandoned its efforts to sell its Aviron
Computer   Technologies,   Inc.,  subsidiary  and  will  instead  liquidate  the
operation.  The Company  anticipates a fourth quarter net loss from discontinued
operations of  approximately  $700,000 in  connection  with the  liquidation  of
Aviron. Earlier this year, the Company had announced its decision to discontinue
the business which had sold and serviced used computer equipment.

"Our  efforts to sell this  subsidiary,  as  disclosed  on April 3,  1996,  were
unsuccessful  so we have  decided  to  liquidate  the  assets,"  said  Thomas J.
Prinzing, President and CEO. "This decision completes our exit from the computer
hardware business. The computer business, which had been such a significant part
of CIS in the 1980's and early 1990's, no longer provides sufficient rewards for
the necessary risk."

Prinzing added, "With the closure of our last computer related business,  we can
focus management's attention and utilize our capital on further expansion of the
trading and leasing of our air, telecommunication and printing businesses."

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.