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NORD RESOURCES CORPORATION SUBSIDIARY RECEIVES ADDITIONAL SETTLEMENT FROM FRAUD CLAIMS

 DAYTON, Ohio, April 26 /PRNewswire/ -- Nord Resources Corporation (NYSE: NRD) today announced that a third settlement in a series of settlements which now total more than $5,000,000 has been reached with a defendant in the previously announced RICO/fraud action in the United States District Court for the Southern District of New York filed by its wholly owned subsidiary Sierra Rutile Limited ("SRL") against past and present owners, directors and officers of its former exclusive sales agent, Bomar Resources Inc., now known as Brinc, Ltd.
 The just-concluded settlement of $2.25 million is with former Bomar president, Benjamin Bollag who, with the financial backing of London- based Berisford International PLC and the predecessor of J. Rothschild Holdings PLC, founded Bomar in 1982. Berisford, various Berisford subsidiaries and Berisford designees to Bomar's board of directors, including Ephraim Margulies, Berisford's former managing director, continue as defendants in the action together with former Berisford consultant Patrice B. Klein and others.
 The litigation now pending before the Honorable John F. Keenan is an outgrowth of, and seeks to affix liability for, the acts and conduct underlying a judgment in favor of SRL in the amount of $56,693,896 filed in the United States District Court for the Southern District of New York on August 25, 1992, confirming a RICO arbitration award against Bomar in which claims of improper transactions involving dilution and conversion of rutile were determined.
 Prior motions by the Berisford defendants and Klein to dismiss the complaint against them as being legally insufficient or for lack of jurisdiction over them were denied in their entirety on September 9, 1992.
 SRL recently amended its complaint to assert an additional claim based on the law of fraudulent conveyances against Ferraris Anstalt, a Liechtensteinian trust and indirect purchaser of Bomar from Berisford in 1988 whose beneficial ownership has not been determined but which SRL alleges to be controlled by Klein. SRL has alleged that millions of dollars were transferred to Ferraris at a time when Bomar was insolvent. SRL is represented by Ronald J. Offenkrantz and Michael H. Smith of the New York law firm of Spitzer & Feldman P.C., and Bollag is represented by Jack P. Levin of the New York law firm of Howard, Darby & Levin.
 Nord Resources Corporation is the world's largest producer of natural rutile (a premium titanium dioxide mineral) and a significant producer of kaolin and holds a 42 percent interest in Nord Pacific Limited (NASDAQ: NORPF), a company engaged in the exploration for and development of precious, strategic and base metals, particularly copper.
 -0- 4/26/93
 /CONTACT: Terence H. Lang, senior vice president -- finance, or Susan Shahan, director of shareholder relations, both of Nord Resources Corporation, 513-433-6307/
 (NRD NORPF)


CO: Nord Resources Corporation ST: Ohio IN: MNG SU:

KL -- CL004 -- 0474 04/26/93 09:04 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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