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LOMAS FINANCIAL CORPORATION ANNOUNCES AMENDED AGREEMENT WITH CAPSTEAD MORTGAGE CORPORATION

 DALLAS, Sept. 9 /PRNewswire/ -- Lomas Financial Corporation (NYSE: LFC) announced today that it had reached an agreement to revise the terms of the management agreement between Capstead Mortgage Corporation (NYSE: CMO) and an indirect, wholly owned subsidiary of Lomas.
 Capstead will pay to Lomas a total of $6.028 million on Sept. 30, 1993, in connection with the agreements. Of the total payment, $4.628 million represents a discount of $372,000 to payments required under the management agreement during the remainder of fiscal 1994 and 1995 and $1.4 million represents the discounted value of payments under the limited non-competition agreement.
 Under the terms of this amendment, the Capstead management agreement will terminate effective Sept. 30, 1993, and after that time Capstead will be entirely self-managed. Also as a result of this amendment, the limited non-competition agreement between Lomas and Capstead will now expire on Sept. 30, 1994, instead of June 30, 1995.
 -0- 9/9/93
 /CONTACT: Tricia Zimmerman of Lomas Financial Corporation, 214-879-5542/
 (LFC CMO)


CO: Lomas Financial Corporation; Capstead Mortgage Corporation ST: Texas IN: FIN SU:

SM -- NY064 -- 0370 09/09/93 13:51 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
Words:189
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