A source familiar with the talks said a tentative agreement, valued at nearly $350 million, with Washington Construction Group could be announced as early as today.

Revlon also told Logisticon that it would cancel the other half of the agreement, valued at $600,000.

The agreement, valued at $193 million, will have ICI assuming $58 million in debts and paying $135 million to Tyler's shareholders.

U S West reaffirmed its commitment to Global Crossing Ltd., the fledgling concern based in Bermuda that had announced agreements valued at $47 billion to merge with both U S West and Frontier.

U.S. FOODSERVICE INC., Columbia, Md., signed a five-year agreement valued at $900 million to become the prime food supplier for all Ruby Tuesday Inc. restaurants.

Capitalizing on its tenure, the company signed a 10-year agreement with the Soviet Union in April, valued at more than $3 billion, to more than double the number of Pepsi plants, to 50 from 24.

In January, Iran said it would provide India with liquefied natural gas for 25 years, an agreement valued at $40 billion.

Fiat S.p.A., which has been doing business in the East for decades, signed a joint-venture agreement, valued at $1.5 billion, to build 300,000 cars a year in Yelabuga, southeast of Moscow.

The agreement, valued at $532 million, had been announced in December.

In a similar although broader arrangement, SmithKline Beecham P.L.C. last summer entered an agreement valued at up to $125 million with Human Genome Sciences Inc., of Bethesda, Md.