OTHER NEWS - Sept. 2, 1993

Sale of Deltec Stake: Bolsa Chica Co., a Newport Beach real estate holding company controlled by developer Donald Koll, said Tuesday it has completed its sale of its 44% stake in Deltec Panamerica S.A. for $44 million in cash. The company said it also received $3 million in cash from Abex Inc., a New Hampshire company that makes industrial components, in exchange for terminating an option agreement with Abex. About $27 million in proceeds from the Deltec transaction was used to retire some of the Bolsa Chica Co.’s senior bank debt, the company said. Deltec Panamerica is an international merchant bank in the Bahamas.