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TOKIO MARINE ANNOUNCES DECISION TO WITHDRAW FROM WSGP PARTNERS

 TOKIO MARINE ANNOUNCES DECISION TO WITHDRAW FROM WSGP PARTNERS
 NEW YORK, Feb. 10 /PRNewswire/ -- Tokio Marine & Fire Insurance Co., Ltd. today announced that it had decided to end its relationship with WSGP Partners and withdraw its capital. The decision to withdraw was made some time ago, and negotiations for withdrawal have been on-going since then. Tokio Marine made the announcement in response to recent inquiries, and to clarify public reports, about its relationship with WSGP Partners. Tokio Marine expects to complete its withdrawal from WSGP Partners on March 26, 1992.
 In July 1990, Tokio Marine, through its subsidiary, invested $100 million in WSGP Partners which was formed by William Simon, a former U.S. Secretary of the Treasury, and Gerald Parsky, a Los Angeles lawyer. Prior to making its investment, Tokio Marine required that, because of the controversial nature of investment in the savings and loan industry, investments in Honolulu Federal, Western Federal and other S&Ls be separated from WSGP. Consequently, WSGP Partners currently owns no interests in any savings and loans.
 -0- 2/10/92
 /CONTACT: Richard J. Wolff or Mickey Mandelbaum of Kekst & Company, 212-593-2655, for Tokio Marine/ CO: Tokio Marine & Fire Insurance Co., Ltd.; WSGP Partners ST: New York, California IN: FIN INS SU:


JT -- NY059 -- 8308 02/10/92 12:56 EST
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Publication:PR Newswire
Date:Feb 10, 1992
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