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J.M. PETERS CO. ANNOUNCES SELECTION OF CAPITAL PACIFIC HOMES AS LEADING BIDDER TO ACQUIRE J.M. PETERS COMMON STOCK AND DEBT

 J.M. PETERS CO. ANNOUNCES SELECTION OF CAPITAL PACIFIC HOMES
 AS LEADING BIDDER TO ACQUIRE J.M. PETERS COMMON STOCK AND DEBT
 NEWPORT BEACH, Calif., June 2 /PRNewswire/ -- The J.M. Peters Co. Inc. (AMEX: JMP) announced today it has been informed that Capital Pacific Homes 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 Capital Pacific Homes in an effort to reach a mutual agreement for the purchase of San Jacinto's interest.
 -0- 6/2/92
 /CONTACT: Greg Petersen of J.M. Peters Co., 714-854-2500/
 (JMP) CO: J.M. Peters Co. Inc. ST: California IN: CST SU: TNM


JL-CH -- LA025 -- 6438 06/02/92 19:01 EDT
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Publication:PR Newswire
Date:Jun 2, 1992
Words:154
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