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ALAN LADD JR. TO LEAVE MGM

 LOS ANGELES, Aug. 12 /PRNewswire/ -- Metro-Goldwyn-Mayer, Inc. today announced that it and Alan Ladd Jr., who has served as a chairman and chief executive officer of the company, have reached an amicable resolution on Mr. Ladd's employment contract with the company and that Mr. Ladd will now leave the company to pursue other interests.
 "We are grateful for Alan Ladd's service to MGM during what was a very difficult time in the company's history," said Francois Gille, director general of Credit Lyonnais, S.A., which through its wholly owned subsidiary, MGM Holdings, Inc., controls MGM. "With his devotion and integrity, he brought his considerable stature and skills to bear on stabilizing MGM's business and restoring its presence, which enabled us in turn to take the very important steps we announced last month to strengthen the company and its financial position. We wish him all the best in his new activities."
 Mr. Ladd stated: "I have known and admired Frank Mancuso for many years and firmly believe that with the full support of Credit Lyonnais, MGM, under Frank's leadership, will again become a major force in the motion picture industry."
 MGM is involved in the worldwide production and distribution of motion picture and television programs.
 -0- 8/12/93
 /CONTACT: Dawn Dover of Kekst and Company, 212-593-2655/


CO: Metro-Goldwyn-Mayer, Inc.; Credit Lyonnais, S.A. ST: California IN: ENT SU: PER

WB -- NY030 -- 2096 08/12/93 11:38 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
Words:238
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