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NORD RESOURCES CORPORATION SUBSIDIARY RECEIVES PARTIAL SETTLEMENT OF FRAUD CLAIMS

 NORD RESOURCES CORPORATION SUBSIDIARY RECEIVES
 PARTIAL SETTLEMENT OF FRAUD CLAIMS
 DAYTON, Ohio, Oct. 30 /PRNewswire/ -- Nord Resources Corporation (NYSE: NRD) today announced that a settlement has been reached with two of the many defendants in the previously announced RICO/fraud action in the United States District Court for the Southern District of New York by its wholly-owned subsidiary Sierra Rutile Limited (SRL) against previous owners, directors, officers and employees of its former exclusive sales agent, Bomar Resources Inc. (Bomar), including Bomar's founder, Benjamin Bollag, the London-based Berisford International PLC and affiliated companies, past or present directors of both Berisford and Bomar, and others, including Eggerding & Company, an Amsterdam warehousing company which allegedly participated in some of the improper transactions involving dilution and conversion of rutile. The settling defendants were officers and directors of Bomar who have agreed to pay more than $2,000,000, of which a portion has already been funded, and to cooperate in SRL's prosecution of the suit against the other defendants.
 Motions by the Berisford defendants, Benjamin Bollag, Patrice Klein, and Eggerding, to dismiss the complaint against them as being legally insufficient or because the court assertedly did not have jurisdiction over them were denied in their entirety on Sept. 9, 1992 by U.S. District Court Judge John F. Keenan. The court stated that Berisford's jurisdictional argument was "duplicitous" and that all claims asserted by SRL against each defendant had been properly pleaded and the court directed that discovery should proceed. That litigation is an outgrowth of, and seeks to affix liability for, the acts and conduct underlying the previously announced $56,000,000 judgment in favor of SRL filed in the U.S. District Court on Aug. 25, 1992 confirming a RICO arbitration award against Bomar.
 Nord Resources Corporation is a major producer of rutile (a premium titanium dioxide mineral) and kaolin and holds a significant interest in Nord Pacific Limited (NASDAQ: NORPF), a company engaged in the exploration for and development of precious, strategic and base metals.
 -0- 10/30/92
 /CONTACT: Terence H. Lang, senior vice president, finance, or Susan Shahan, director of shareholder relations, 513-433-6307, both of Nord Resources Corporation/
 (NRD) CO: Nord Resources Corporation ST: Ohio IN: MNG SU:


DA -- CL003 -- 7018 10/30/92 09:55 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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