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FOOTE, CONE & BELDING ISSUES STATEMENT ON ORION BANKRUPTCY FILING

 FOOTE, CONE & BELDING ISSUES STATEMENT ON ORION BANKRUPTCY FILING
 CHICAGO, Dec. 12 /PRNewswire/ -- Foote, Cone & Belding Communications, Inc. (NYSE: FCB) today released a statement from Bruce Mason, its chairman and CEO, in response to yesterday's bankruptcy filing by Orion Pictures, a client of FCB's Los Angeles office.
 "The Orion filing, under Chapter 11 of the Bankruptcy Code, cited a debt to FCB of $14.4 million. Our current financial statements reflect a net account receivable from Orion of far less than this reported figure.
 "Further, reserves have already been established for FCB's estimate of what the ultimate financial impact of this action will be."
 Additional details are not available pending FCB's efforts to best protect the interests of its shareholders through Orion's bankruptcy proceedings.
 -0- 12/12/91
 /CONTACT: Greg Blaine, 312-751-7009, or Terry Ashwill, 312-751-7002, both of FCB/
 (FCB) CO: Foote, Cone & Belding Communications, Inc.; Orion Pictures ST: Illinois, California IN: ADV SU:


KD -- NY083 -- 2090 12/12/91 15:55 EST
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Publication:PR Newswire
Date:Dec 12, 1991
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