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THE FOOTHILL GROUP INC. REPORTS CHANGE IN OWNERSHIP OF COMMON STOCK

THE FOOTHILL GROUP INC. REPORTS CHANGE IN OWNERSHIP OF COMMON STOCK
 LOS ANGELES, Jan. 3 /PRNewswire/ -- The Foothill Group Inc. (NYSE: FGI) today reported that Santa Cruz Resources Inc., a second tier subsidiary of Tucson Electric Power Co. (NYSE: TEP), has sold its 3,864,465 Class A Common Shares of Foothill. This block of stock, which represents approximately 38.3 percent of Foothill's outstanding common shares, was purchased by a number of institutional and individual investors, none of which beneficially own more than 9.9 percent of Foothill's outstanding common shares.
 John F. Nickoll, president and co-chief executive officer, said, "We view this development as very positive for Foothill as it broadens our shareholder base and brings us several prestigious institutional investors as new shareholders. It also eliminates a large potential overhang on our common stock. We appreciate the confidence these new investors have placed in Foothill."
 The Foothill Group specializes in providing innovative financial services through its three highly specialized yet complimentary operating units. Foothill Capital offers asset-based financing tailored to businesses whose credit needs require sophisticated loan programs. Foothill Thrift specializes in fully secured commercial and industrial loans. The Capital Markets Division focuses on asset management and arbitrage trading activities.
 -0- 1/3/92
 /CONTACT: Henry K. Jordan, VP and CFO of The Foothill Group, 213-478-8383/
 (FGI TEP) CO: The Foothill Group Inc. ST: California IN: FIN SU:


SE-DM -- LA008 -- 6550 01/03/92 15:11 EST
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Publication:PR Newswire
Date:Jan 3, 1992
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