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PATHE BOARD ASSESSING BANK ACTION

 PATHE BOARD ASSESSING BANK ACTION
 CULVER CITY, Calif., April 16 /PRNewswire/ -- In response to the


recent announcement by Credit Lyonnais Bank Nederland N.V. that it has delivered a notice of foreclosure with respect to 98.5 percent of the shares of common stock of MGM-Pathe Communications Co. (NYSE: MGM), which shares constitute the principal asset of Pathe Communications Corp. (NYSE: PCC), the board of directors of Pathe today announced that it was reviewing the notice and had retained special outside legal counsel to assist in developing an appropriate response.
 "We are assessing the situation and will respond in due course," stated Alan Ladd Jr. and Dennis Stanfill, co-chairmen and co-chief executive officers of Pathe.
 It was also announced that a Special Committee of Pathe's board, consisting of Stanfill and Charles R. Meeker, president of Pathe, has been appointed to review the foreclosure action and to make appropriate recommendations to the board. In this connection, the Special Committee has retained the law firm of Milbank, Tweed, Hadley & McCloy as independent counsel to the special committee, and intends to retain an independent financial advisor to the Special Committee.
 Pathe is the holding company for MGM, which is involved in the worldwide production and distribution of motion picture and television programs and operates theater chains in Europe.
 -0- 4/16/92
 /CONTACT: Craig A. Parsons of Pondel Parsons & Wilkinson, 310-207-9300, for Pathe Communications/
 (PCC MGM) CO: Pathe Communications Corp.; MGM-Pathe Communications Co. ST: California IN: ENT SU:


KJ -- LA043 -- 9600 04/16/92 19:38 EDT
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Publication:PR Newswire
Date:Apr 16, 1992
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