WELLINGTON, New Zealand, Nov. 12 / PRNewswire/AsiaNet -- Tranz Rail Holdings Limited (NZSE: TRH) (Nasdaq: TNZRY) announced today in its Form 20-F Annual Report to the United States Securities and ExchangeCommission that it has established an unsecured committed NZ$180,000,000 five year cash advance facility which is expected tobe syndicated to a group of commercial banks. The cash advancesfacility may be drawn upon for general corporate purposes includingworking capital and capital expenditures. In addition, Tranz Rail Holdings Limited ("TRH") is in the processof establishing an uncommitted domestic (NZ) commercial paperprogramme which is expected to be effective by the end of the calendar year 1997. This programme contemplates issuance by TRH ofunsecured notes from time-to-time in amounts outstanding up toNZ$250,000,000. Shares of Tranz Rail Holdings Limited are publicly traded on the New Zealand Stock Exchange under the symbol TRH and the US AmericanDepositary Shares (ADS) of the Company are traded on the NasdaqNational Market System under the symbol TNZRY (each ADS is equivalentto three (3) shares). The Company is the leading multi-modal freighttransport and distribution company in New Zealand and operates the only commercial railroad providing freight and passenger servicesutilizing 3,900 route kilometers (2,400 miles) of track,approximately 360 locomotives, 6,700 wagons (freight cars), 130 carriages (passenger railcars), 170 self propelled passengerrailcars, 2,600 shipping containers and three roll-on-roll-off railferries between the North and South Islands.Source Tranz Rail Holdings Limited. CONTACT: Ronald G. Russ,Executive Manager and Chief Financial Officer of Tranz Rail,Domestic, 04-498-2099, or International, 644-498-2099, and Fascimile,644-498-2014/