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J.M. PETERS ANNOUNCES KAUFMAN AND BROAD SELECTED AS LEADING BIDDER

 J.M. PETERS ANNOUNCES KAUFMAN AND BROAD SELECTED AS LEADING BIDDER
 NEWPORT BEACH, Calif., March 4 /PRNewswire/ -- The J.M. Peters Co. Inc. (AMEX: JMP) has been informed that Kaufman and Broad Home Corp. (NYSE: KBH) has been selected as the leading bidder for the acquisition of the common stock and debt of J.M. Peters held by San Jacinto Savings Association, F.A. San Jacinto owns approximately 86 percent of J.M. Peters outstanding common stock. The Resolution Trust Corp., as receiver of San Jacinto, will enter into negotiations with Kaufman and Broad in an effort to reach a mutual agreement for the purchase of San Jacinto's interest.
 -0- 3/4/92
 /CONTACT: Greg Petersen of J.M. Peters Co. Inc., 714-854-2500/
 (JMP KBH) CO: J.M. Peters Co. Inc.; Kaufman and Broad Home Corp. ST: California IN: CST SU: TNM


AL-KJ -- LA039 -- 5193 03/04/92 18:59 EST
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Publication:PR Newswire
Date:Mar 4, 1992
Words:151
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