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TRITON WITHDRAWS MOTION TO MODIFY ACTAVA LOAN AND ANNOUNCES TIMETABLE FOR CHAPTER 11 DISTRIBUTION

 SAN DIEGO, Aug. 25 /PRNewswire/ -- Triton Group Ltd. (AMEX: TGL) announced that it has withdrawn its motion before Judge Peter W. Bowie of the United States Bankruptcy Court for the Southern District of California to modify the terms of its loan with The Actava Group Inc. (NYSE: ACT) under its plan of reorganization. This action clears the way for the initial distribution of common stock and warrants pursuant to the Joint Plan of Reorganization for Intermark Inc. and Triton Group Ltd. which became effective June 25, 1993. The distribution is expected to commence the week of Sept. 6.
 Company officials estimate that the initial distribution will result in the issuance of approximately 90 percent of the 20 million new common shares and of the 813,470 new warrants under the plan. The remaining 10 percent of common stock and warrants are to be held back pending resolution of disputed creditor claims filed in Intermark's and Triton's Chapter 11 cases.
 Triton owes Actava approximately $32 million under a loan agreement secured by 4.3 million shares or 25 percent of Actava's common stock.
 Triton Group Ltd. owns, in addition to its stake in Actava, majority interests in six subsidiaries with current annual revenues in excess of $200 million.
 -0- 8/25/93
 /CONTACT: John C. Stiska, president and CEO, or Michael M. Earley, senior VP and CFO, of Triton Group, 619-231-1818/
 (TGL ACT)


CO: Triton Group Ltd.; The Actava Group Inc. ST: California IN: SU: BCY

BP-JL -- SD007 -- 5920 08/25/93 18:15 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
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