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                                              Form 8-K October 1, 1996
                                              Exhibit 99

Consortium Completes Purchase of AT&T Capital

For Immediate Release: October 1, 1996
- --------------------------------------

     Morristown, NJ - AT&T Capital Corporation today announced the completion of
its merger with a majority-owned subsidiary of GRS Holding Company Ltd.
("GRSH"), owner of a U.K. rail leasing company. Following the merger, the
company is owned by a leasing consortium composed of certain members of AT&T
Capital's senior management, led by Chairman and CEO Tom Wajnert and GRSH.

     As a result of the merger, stockholders of AT&T Capital will receive $45 in
cash for each outstanding share of the company's common stock. Instructions
concerning the exchange of shares for cash will be mailed shortly to the
company's stockholders of record by First Chicago Trust Company of New York, the
paying agent.

     The company will continue under the name, "AT&T Capital Corporation" and
will maintain its headquarters in Morristown, New Jersey.