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THE FOOTHILL GROUP INC. ANNOUNCES RECORD DATE FOR THRIFT DISTRIBUTION

 LOS ANGELES, Dec. 6 /PRNewswire/ -- The Foothill Group Inc. (NYSE: FGI) Board of Directors today announced the contingent record and distribution dates for the previously reported spin-off of Pacific Crest Capital Inc., the newly formed holding company for its Foothill Thrift subsidiary.
 The spin-off is contingent upon the successful termination of the subscription period for an offering of Preferred Stock by Pacific Crest Capital Inc. which is expected on or before Dec. 16, 1993. If this contingency is satisfied and the sale of Preferred Stock is effected, the common shares of Pacific Crest Capital Inc. will be distributed and payable on Dec. 23, 1993 to Foothill Group shareholders of record on Dec. 16, 1993. A registration statement for the Preferred Stock offering of a minimum of $7.0 million and a maximum of $15.0 million of Stock by Pacific Crest Capital Inc. was declared effective today by the Securities and Exchange Commission. Upon consummation, the spin-off will be made on the basis of one common share of Pacific Crest Capital Inc. for each 15 common shares of Foothill Group outstanding on the record date. It is expected that Foothill Group common stock will trade with "due bills" attached on or after Dec. 10, 1993. Trading with "due bills" will continue through the distribution date. These "due bills" entitle owners of Foothill Group common stock through and including the distribution date of Dec. 23, 1993, to receive the spin-off shares of common stock of Pacific Crest Capital Inc.
 The Foothill Group Inc. is a financial services company engaged in the commercial finance and asset management businesses. At Sept. 30, 1993, Foothill had total assets owned or under management of more than $1.3 billion. Foothill Capital Corp., the company's largest subsidiary, provides asset-based financing secured by accounts receivable, inventory, equipment and other assets to businesses throughout the United States. The parent company's asset management operation manages institutional limited partnerships which invest in the debt of companies which are in reorganization or in the process of restructuring.
 -0- 12/6/93
 /CONTACT: Henry K. Jordan, VP and CFO of The Foothill Group, 310-996-7000/
 (FGI)


CO: The Foothill Group Inc.; Pacific Crest Capital Inc. ST: California IN: FIN SU:

JB-MF -- LA021 -- 0871 12/06/93 14:36 EST
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Publication:PR Newswire
Date:Dec 6, 1993
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