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THE TIERCO GROUP, INC. COMPLETES $11 MILLION PRIVATE PLACEMENT

 THE TIERCO GROUP, INC. COMPLETES $11 MILLION PRIVATE PLACEMENT
 OKLAHOMA CITY and NEW YORK, Nov. 2 /PRNewswire/ -- The Tierco Group, Inc. announced today that it consummated, on Oct. 30, 1992, the private placement of 11 million shares of its common stock to over 20 investors for a total purchase price of $11 million. This placement brings the total outstanding common stock of Tierco to 13,276,097 shares.
 Of the shares issued, 3.5 million were issued to Windcrest Partners, a New York-based investment partnership, in exchange for $3.5 million principal amount of promissory notes of Tierco held by Windcrest. After giving effect to the placement, Windcrest and its affiliates hold approximately 34 percent of the outstanding shares of Tierco's common stock.
 Tierco is primarily engaged in the ownership and operation of themed amusement and water parks. Tierco owns and operates Frontier City, a themed amusement park located in Oklahoma City, White Water Bay, a themed water park located in Oklahoma City, and Wild World Amusement Park, a combination themed amusement and water park located in Largo, Maryland, 15 miles from Washington, D.C.
 Tierco intends to use the new cash proceeds of this placement to fund the capital improvement programs at its facilities.
 Representatives of two of the investors in the transaction will join Tierco's board of directors, as will a representative of Lepercq, de Neuflize & Co. Inc., which served as adviser to Tierco on this placement.
 Although Tierco is a public company, since October 1990 there has been no active market for its common stock.
 -0- 11/2/92
 /CONTACT: Kieran E. Burke, president of The Tierco Group, Inc., 212-599-4695/ CO: Tierco Group, Inc. ST: Oklahoma IN: SU:


LD -- NY096 -- 1816 11/02/92 17:36 EST
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Publication:PR Newswire
Date:Nov 2, 1992
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