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

To: Lawrence Burg who wrote (235)	11/24/1999 9:43:00 AM
From: Dennis Lefebvre	Respond to of 277

Loewen Group Inc (The) - Globe says Loewen granted extension Loewen Group Inc (The) LWN Shares issued 74,147,821 1999-11-23 close $0.68 Wednesday Nov 24 1999 The Globe and Mail reports in its Wednesday, Nov. 24, edition that Loewen Group has been given a seven-month extension until June 30 to reorganize its operations and finances under bankruptcy protection in Canada. The Globe's Business Report column relates that Mr. Justice James Farley of the Ontario Superior Court said yesterday he is satisfied that progress is being made to streamline the company, and added that extending the deadline will help accommodate the lengthy United States restructuring process. Loewen filed on June 1 for protection from creditors in Ontario and Delaware. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)

To: Lawrence Burg who wrote (235)	12/2/1999 9:52:00 AM
From: Dennis Lefebvre	Read Replies (1) \| Respond to of 277

Loewen elects Houston as new president and CEO Loewen Group Inc (The) LWN Shares issued 74,147,821 Nov 30 close $0.64 Wed 1 Dec 99 News Release Mr. Michael Kolbenschlag reports Robert Lundgren has expressed his intention to step down as the company's president and chief executive officer effective Dec. 2, 1999. Paul Houston, a member of the company's board and its audit and compensation committees, has been selected by the board of directors to replace Mr. Lundgren as president and chief executive officer. John S. Lacey, chairman of the Loewen Group Inc., said: "A year ago, Bob Lundgren was asked by the board of directors to step into the job of president and CEO at a time of crisis for the company. He provided badly-needed strength and stability during an extraordinarily difficult period in the company's history. The board appreciates all that he has done for the company and respects Bob's decision to step down at this time. We will miss him." Mr. Lacey added, "The company is very fortunate that Paul Houston has agreed to accept the position of president and CEO. At Scott's, and throughout his career, he has demonstrated the ability to provide strong leadership in challenging situations and to successfully lead consumer-focused companies. "The company's funeral home and cemetery operations will greatly benefit from Paul's extensive experience in bringing about operational improvement in highly-decentralized consumer businesses. He also brings to the company particular expertise in creating value through the development of information systems necessary for effective corporate decision making. The board of directors and management look forward to working with Paul in successfully completing the Loewen Group's restructuring." Mr. Houston, prior to assuming his new position with the Loewen Group, served as president and chief executive officer of Scott's Restaurants Inc., one of the largest food service operators in Canada. He previously served as president of Black Photo Corporation and as senior vice-president and chief information officer of Scott's Hospitality Inc. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com