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Non-Tech : Cityscape Financial (CTYS)

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To: Nick Krishnani who wrote (2464)	6/2/1998 10:38:00 AM
From: Milk	Read Replies (2) of 2544

Tuesday June 2, 9:37 am Eastern Time Company Press Release Cityscape Financial Makes Announcement ELMSFORD, NY--(BUSINESS WIRE)--June 2, 1998--Cityscape Financial Corp. (OTC Bulletin Board:CTYS - news; ''Cityscape'' or the ''Company'') announced today that as part of Cityscape Financial Corp.'s ongoing efforts to restructure its balance sheet, the Company entered into a non-binding letter of intent on June 1, 1998 with representatives of holders of a majority of the Company's 12-3/4% Senior Notes due 2004 to support a proposed restructuring of the Company. Readers of this press release are urged to receive and read the full text of a copy of the letter of intent filed today by the Company on Form 8-K with the Securities and Exchange Commission, as well as other disclosures and risks detailed from time to time in the Company's Securities and Exchange Commission reports. -------------------------------------------------------------------------------- Contact: Steven M. Miller, President and Chief Executive Officer Cityscape Financial Corp. 914/592-6677 Michele Katz Morgen-Walke Associates (212) 850-5600

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