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THE FOOTHILL GROUP INC. EXPECTS GAIN ON G. HEILEMAN BREWING COMPANY INVESTMENT

 LOS ANGELES, Nov. 1 /PRNewswire/ -- The Foothill Group Inc. (NYSE: FGI) today announced that it expects to record a significant gain on its holdings of equity and debt securities of G. Heileman Brewing Co. Foothill acquired its position in Heileman through its money management activities. Heileman today announced it has signed a definitive agreement under which Heileman would be sold to Hicks, Muse & Co. Inc. of Dallas, a leading investment firm, in a transaction expected to be consummated in 60 to 75 days. Foothill understands that the consummation of the Heileman transaction is subject to certain conditions. If the transaction is consummated, Foothill expects to record a pretax gain of at least $10 million.
 The Foothill Group Inc. is a financial services company engaged in the asset-based lending and asset management businesses. As of Sept. 30, 1993, Foothill had total assets owned or under management of more than $1.3 billion. Foothill Capital Corp., its largest subsidiary, provides asset-based financing secured by accounts receivable, inventory, equipment and other assets to businesses nationwide. Foothill Thrift and Loan specializes in providing commercial real estate financing for California-based small businesses and entrepreneurs. The parent company's asset management operation manages institutional limited partnerships which invest in the debt of companies which are in reorganization or in the process of restructuring.
 -0- 11/1/93
 /CONTACT: Henry K. Jordan, VP & CFO of The Foothill Group, 310-996-7000/
 (FGI)


CO: The Foothill Group Inc. ST: California IN: FIN SU:

EH -- LA021 -- 9037 11/01/93 10:02 EST
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Publication:PR Newswire
Date:Nov 1, 1993
Words:251
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