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Non-Tech : Loewen Group -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Lefebvre who wrote (219)	7/19/1999 9:08:00 PM
From: Ed Pakstas	Read Replies (1) \| Respond to of 277

*NEWS RELEASE* Loewen Group receives court approval for $200-million DIP financing Loewen Group Inc (The) LWN Shares issued 74,061,750 Jul 19 close $1.30 Mon 19 Jul 99 News Release Mr. John Lacey reports The Loewen Group Inc. has received final approval from the Bankruptcy Court of its $200-million debtor-in-possession (DIP) financing led by First Union to finance the company's operations during its restructuring process. "With our final DIP financing in place, and the ongoing support of our vendors and our employees, The Loewen Group is now well-positioned to fund its operations," said chairman John Lacey. "This allows us to successfully maintain our relationship with our customers and suppliers and to strengthen Loewen's abilities going forward." The Loewen Group filed its Chapter 11 petition in the U.S. Bankruptcy Court for the District of Delaware in Wilmington and its application for creditor protection under the Companies' Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice on June 1, 1999. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com