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<SEC-DOCUMENT>0000914317-96-000162.txt : 19960613
<SEC-HEADER>0000914317-96-000162.hdr.sgml : 19960613
ACCESSION NUMBER:		0000914317-96-000162
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	19960605
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		19960610
SROS:			NASD

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONTINENTAL INFORMATION SYSTEMS CORP
		CENTRAL INDEX KEY:			0000024071
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER RENTAL & LEASING [7377]
		IRS NUMBER:				160956508
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25104
		FILM NUMBER:		96578739

	BUSINESS ADDRESS:	
		STREET 1:		ONE NORTHERN CONCOURSE
		STREET 2:		P O BOX 4785
		CITY:			SYRACUSE
		STATE:			NY
		ZIP:			13221-4785
		BUSINESS PHONE:		3154551900

	MAIL ADDRESS:	
		STREET 1:		ONE NORTHERN CONCOURSE
		STREET 2:		P O BOX 4785
		CITY:			SYRACUSE
		STATE:			NY
		ZIP:			13221-4785
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>CIS CORP   8-K   6/10/96
<TEXT>

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                              --------------------


                                    FORM 8-K


                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                              ---------------------


         Date of Report (Date of earliest event reported) June 5, 1996

                         Commission File Number 0-25104



                         CONTINENTAL INFORMATION SYSTEMS
                                   CORPORATION
                           (Exact name of registrant)



      New York                                          16-0956508
(State of incorporation)                 (I.R.S. Employer Identification Number)



      One Northern Concourse, P.O. Box 4785, Syracuse, New York 13221-4785
              (Address of principal executive offices and zip code)


                                 (315) 455-1900
                         (Registrant's telephone number)





================================================================================
<PAGE>
ITEM 5.    OTHER EVENTS

         Continental  Information  Systems  Corporation  incorporates  herein by
reference the information  contained in the press release filed as Exhibit 99 to
this Current Report.


ITEM 7.    EXHIBITS

                                                                        
Exhibit No.                                                          

    99         Press Release by Continental Information Systems
               Corporation dated June 5, 1996, announcing
               fourth quarter charge



<PAGE>
                                    SIGNATURE


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                             CONTINENTAL INFORMATION SYSTEMS
                                             CORPORATION


                                                 BY: /s/ Frank J. Corcoran
                                                     ---------------------
                                                     Frank J. Corcoran
                                                     Senior Vice President,
                                                     Chief Financial Officer
                                                     and Treasurer



Dated:    June 5, 1996
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<TEXT>

                                                                      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.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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