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J.E. ROBERT COMPANIES PROMOTES THREE MANAGERS FOR RTC, FDIC, INVESTMENT POSTS; BELCHER, COONEY AND MOFFETT NAMED VICE PRESIDENTS

 ALEXANDRIA, Va., April 12 /PRNewswire/ -- The J.E. Robert Companies today announced promotions of three key managers to vice presidencies. Dale Cooney of the New England Office in Milford, Conn., and Keith Belcher and Wes Moffett of the firm's Dallas, Texas, Government Contracting and Investment Division Offices, respectively, will assume their new duties immediately.
 Belcher has been named vice president and director of RTC Contracting and REMIC Special Servicing. He will continue to be based in Dallas. The J.E. Robert Companies' Dallas government contracting operations include management of RTC portfolios containing more than 1,400 assets totalling $2.1 billion. Belcher has been serving as head of J.E. Robert Companies' Dallas Government Contracting Office REO Department for the past year and a half, and had previously served as contract manager for each of the firm's current RTC contracts he will now oversee. He has more than 11 years of experience in real estate and mortgage capital recovery, and has been responsible for the management and recovery of billions of dollars of non-performing assets.
 Cooney will continue to serve as manager of the Loan Department of the J.E. Robert Company of New England. In May of 1992 the Federal Deposit Insurance Corporation (FDIC) awarded the J.E. Robert Company of New England a contract to manage up to $2 billion in assets from four failed banks in New York and Connecticut. Cooney will continue to manage a portfolio of 2,541 mortgage, commercial and consumer loans with book values totalling $1 billion. A Certified Public Accountant, Cooney was with Arthur Andersen & Co. for six years and has worked in troubled asset recovery for the past seven years.
 Moffett will serve as vice president and South Central regional manager for the J.E. Robert Companies' Dallas-based Investment Division. His responsibilities will include management of assets acquired by the J.E. Robert Companies as a principal in partnership with capital partners. J.E. Robert Companies has acquired or contracted to acquire 11 portfolios at $2.1 billion in real estate assets. These 11 portfolios encompass some 576 assets located in 26 states across all regions of the United States. Moffett has been serving as Dallas office manager for the Investment Division and as a senior asset manager on RTC contracts. He has more than ten years experience in real estate and mortgage capital recovery, and has overseen management of non-performing assets worth several billion dollars.
 "These promotions reflect the continued growth and success of our Dallas and New England operations," observed Joseph E. Robert Jr., chairman and chief executive officer of the J.E. Robert Companies. "They also reflect the professional growth and achievement of three outstanding individuals. I am proud to have managers of this caliber associated with our group, and happy to be able to reward them with the increased responsibilities that their efforts have helped to create. I know that they will accomplish even more in their new roles."
 J.E. Robert Companies is one of the largest asset management/capital recovery firms in the country, with more than $9 billion of real estate and loans under management or oversight. Headquartered in Alexandria, the firm has regional offices serving the entire nation.
 -0- 4/12/93
 /CONTACT: Ann Stephenson, 908-439-3660, for J.E. Robert Companies/


CO: J.E. Robert Companies ST: Virginia, Connecticut, Texas IN: FIN SU: PER

GK-TS -- NY013 -- 4629 04/12/93 08:39 EDT
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Date:Apr 12, 1993
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