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MHI GROUP GETS ONE YEAR LOAN EXTENSION; ACQUISITION AND EQUITY FINANCING DISCUSSIONS TERMINATED

 MHI GROUP GETS ONE YEAR LOAN EXTENSION;
 ACQUISITION AND EQUITY FINANCING DISCUSSIONS TERMINATED
 TALLAHASSEE, Fla., June 23 /PRNewswire/ -- MHI Group, Inc. (NYSE: MH) announced today that its senior bank lender, the First National Bank of Boston, has agreed to extend until July 31, 1993 a preexisting requirement to raise $2.4 million in additional equity capital.
 MHI also announced that its negotiations for the acquisition of Arlington Memorial Park in Atlanta, and for the private placement of Stewart Enterprises of $12 million of MHI's cumulative convertible preferred stock have been terminated.
 MHI continues to investigate other acquisition opportunities in the cemetery and funeral home industry, and is investigating other sources of debt and equity financing.
 -0- 6/23/92
 /CONTACT: Fred O. Drake of MHI Group, 904-385-8883/
 (MH) CO: MHI Group, Inc. ST: Florida IN: SU:


SM-TQ -- NY010 -- 2708 06/23/92 09:14 EDT
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Publication:PR Newswire
Date:Jun 23, 1992
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