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CARL MARKS & CO., INC. ANNOUNCES FORMATION OF NEW FINANCIAL AND MANAGEMENT CONSULTING GROUP

 CARL MARKS & CO., INC. ANNOUNCES FORMATION OF NEW
 FINANCIAL AND MANAGEMENT CONSULTING GROUP
 NEW YORK, May 18 /PRNewswire/ -- Carl Marks & Co., Inc. has formed a new entity, The Carl Marks Consulting Group Co. (CMCG), to offer strategic business consulting services, announced Mark L. Claster, chief operating officer of Carl Marks & Co., Inc.
 Carl Marks & Co., Inc. has combined the strengths of seasoned and talented professionals who are uniquely qualified to provide a full range of services to troubled businesses and real estate. CMCG provides a vastly broader menu of financial and management services than traditional business consultants.
 "What sets us apart from other business consulting firms is the combination of expert financial analysis along with hands-on, effective interim management capabilities," said Claster.
 Carl Marks & Co., Inc. is a highly diversified investment bank whose expertise is acknowledged in venture capital, corporate acquisition and divestiture, real estate investment and development and specialized money management. Carl Marks & Co., Inc. has been an investor for more than 30 years in more than 200 businesses, and currently owns interests in 80 companies in a wide variety of industries and real estate nationwide.
 The Carl Marks Consulting Group's principals have a combined strength and history of helping companies succeed in hard times. Joining Claster and several other executives from Carl Marks and its affiliate companies is Stanley B. Frieze, president of the Stanley B. Frieze Company, a management consulting company that has been assisting troubled companies in more than 25 industries for more than 20 years.
 "Stan Frieze's extensive hands-on experience in stabilizing distressed companies, and his success in providing effective interim management for these companies, adds an important dimension to our consulting team," said Claster.
 "I am extremely pleased to join the very talented group of principals who make up The Carl Marks Consulting Group," said Frieze. "Our combined knowledge and experience in every aspect of the financial arena, in so many different industries, will enable us to create solutions for virtually any problem, solely on the basis of having done it before. I don't think any other firm of this kind can offer the combined expertise that The Carl Marks Consulting Group can offer."
 Other CMCG principals include: Robert S. Boas and Edwin S. Marks, chairman and president of Carl Marks & Co., Inc., respectively; Carl Marks managing directors Robert Davidoff, Andrew M. Boas, Howard M. Davidoff, Robert E. Marks and Martin Schiffman; Irwin Hochberg, senior partner and president of Bloom Hochberg & Co., P.C., a public accounting firm; John M. Mueller, a consultant specializing in financial reorganization of troubled companies; Joel R. Jacks, an interim turnaround/crisis/work-out specialist; and Peter S. Greene, a hospitality industry specialist.
 -0- 5/18/92
 /CONTACT: Mark L. Claster, Stanley B. Frieze or Howard Davidoff, all of Carl Marks & Co., Inc., 212-909-8400/ CO: Carl Marks & Co., Inc. ST: New York IN: FIN SU:


KK -- CL004 -- 1223 05/18/92 10:26 EDT
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Publication:PR Newswire
Date:May 18, 1992
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