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CF INCOME PARTNERS L.P. ANNOUNCES APPROVAL OF PARTNERSHIP AMENDMENT AND FILING OF CLASS ACTION LAWSUIT

CF INCOME PARTNERS L.P. ANNOUNCES APPROVAL OF PARTNERSHIP AMENDMENT
 AND FILING OF CLASS ACTION LAWSUIT
 LOS ANGELES, Aug. 13 /PRNewswire/ -- CF Income Partners L.P. (NYSE: CFI), a Los Angeles-based master limited partnership, today announced that the amendment to the partnership agreement, which amends certain debt limitations and increases the flexibility of the partnership to refinance approximately $125 million of debt maturing during the next 10 months, was approved by unitholders holding a majority of the outstanding units at a special meeting of its unitholders on Aug. 12, 1992.
 The partnership also announced that on Aug. 10, 1992, certain parties, which previously filed class action lawsuits against CF Management Corp., the general partner of CF Income Partners, CalFed Inc. and other defendants, have


filed a separate class action complaint which seeks, among other things, to invalidate the confirmation of the amendment to the partnership agreement described above. "It cannot be determined with certainty at this time whether the filing of this new action will impair the ability of the partnership to engage in the refinancings which the recent amendment allows," said Dennis Sondker, president and chief executive officer of CF Management Corp. "Now that the unitholders have approved the amendment to the debt limitations of the partnership agreement, the highest priority of the partnership is to implement a refinancing plan that is in the long-term best interest of the partnership and its unitholders. The general partner intends to vigorously contest this complaint and move as expeditiously as possible to resolve it," he added.
 CF Income Partners L.P. is a publicly traded master limited partnership which has invested in income-producing multifamily residential, commercial and industrial properties.
 -0- 8/13/92
 /CONTACT: Barbara J. Pape, 213-930-6246, or Leeann Morein, 213-930-7050, both of CF Income Partners L.P./
 (CFI) CO: CF Income Partners L.P. ST: California IN: FIN SU:


JL-SE -- LA027 -- 9692 08/13/92 13:54 EDT
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Publication:PR Newswire
Date:Aug 13, 1992
Words:318
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