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WILLIAM E. SIMON AND PRESTON MARTIN ISSUE STATEMENT IN RESPONSE TO ANNOUNCEMENT BY TOKIO MARINE & FIRE INSURANCE CO.

 WILLIAM E. SIMON AND PRESTON MARTIN ISSUE STATEMENT IN RESPONSE
 TO ANNOUNCEMENT BY TOKIO MARINE & FIRE INSURANCE CO.
 MARINA DEL REY, Calif., Feb. 10 /PRNewswire/ -- In response to an announcement earlier this morning by Tokio Marine & Fire Insurance Co. of its decision to withdraw from WSGP Partners, William E. Simon, former secretary of the U.S. Treasury, and Preston Martin, former vice chairman of the Federal Reserve Board, stated that they, along with two of the other original founding partners, Roy Doumani and Larry Thrall, withdrew from WSGP Partners more than five months ago. Their withdrawal took place prior to Tokio Marine's consideration of ending its relationship with WSGP Partners. Since their departure, Simon, Martin, Thrall and Doumani have, along with William E. Simon Jr. and Peter Simon, been working together on managing their mutual investments.
 Simon and Martin indicated that they hold Tokio Marine in the highest regard and continue cordial relations with the company.
 -0- 2/10/92
 /CONTACT: Larry Thrall of The Simon Group, 310-574-6935/ CO: WestFed/H.F. Holdings Inc.; WSGP Partners; Tokio Marine & Fire
 Insurance Co. ST: California IN: FIN SU:


EH-KJ -- LA043 -- 8511 02/10/92 17:36 EST
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Publication:PR Newswire
Date:Feb 10, 1992
Words:195
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