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BATTERY PARK HOLDINGS AND OLYMPIA & YORK REACH STANDSTILL

 NEW YORK, Nov. 23 ~PRNewswire~ -- Olympia & York Companies (USA) and Battery Park Holdings Inc. (BPHI) today announced that they have reached a standstill arrangement pursuant to which BPHI will not pursue the legal proceedings commenced by it on Nov. 20. The standstill arrangement will extend until April 1, 1993, subject to certain conditions.
 -0- 11~23~92
 ~CONTACT: Edwin B. Nordholm of Battery Park Holdings Inc., 416-369-2311~


CO: Battery Park Holdings Inc.; Olympia & York Companies (USA) ST: New York IN: FIN SU:

SH -- NY064 -- 0656 11~23~92 14:59 EST
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Publication:PR Newswire
Date:Nov 23, 1992
Words:91
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