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Strategies & Market Trends : ARB/NLP/TCI/IOT - hidden value or just another magic ring? -- Ignore unavailable to you. Want to Upgrade?

To: Rajiv who wrote (7)	6/20/2000 8:24:00 AM
From: RockyBalboa	Respond to of 26

Was BCM behind Dynex, the troubled lender? Will be interesting whether Dynex will finally fail on the credit burden. That won't be the first time that things go in reverse.... >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>><< Wednesday May 24, 2:28 pm Eastern Time Company Press Release SOURCE: Basic Capital Management Texas Court Enters TRO Against Dynex DALLAS, May 24, 2000 (PRIMEZONE) -- Basic Capital Management, Inc. announced on Wednesday that a temporary restraining order has been obtained against Dynex Capital Inc. (NYSE:DX - news) and its subsidiary, Dynex Commerical, Inc., restraining the Glen Allen, Va.-based lender from selling or transferring loans made to Basic Capital Management, American Realty Trust (NYSE: ARB - news), Transcontinental Realty Investors, Inc. (NYSE: TCI - news) and affiliated companies. The restraining order was entered by the Dallas County Court at Law on May 23. In the lawsuit, Basic Capital Management and its affiliated companies allege Dynex Commercial breached a $160 million lending commitment and related individual loan agreements. In addition to monetary damages, the lawsuit filed in Dallas County Court, seeks to off-set Basic Capital Management's and affiliated companies' indebtedness to Dynex Commercial on multiple individual loans. The TRO was entered to preserve the off-set remedy. According to court papers, the need for the TRO was triggered by Dynex's public announcements of its intent to sell loans due to its financial condition. Basic Capital Management, Inc. is a Dallas-based advisory company to a number of publicly traded real estate entities, including American Realty Trust, Inc. and Transcontinental Realty Investors, Inc. For more information about BCM and its affiliated companies, go to the company Web site at www.bcm-inc.com . -------------------------------------------------------------------------------- biz.yahoo.com

To: Rajiv who wrote (7)	6/24/2000 10:13:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 26

Ok, we've seen a bail on IOT which promptly rose to $6 but now what? Note that the combined margin call amounted to $72MM (37+35, according to their press releases). >>>>>>>>>>>>>>>>>>>> Friday June 23, 4:03 pm Eastern Time Company Press Release SOURCE: Basic Capital Management Basic Capital Management Retires Margin Debt on Its Income Opportunity Shares DALLAS, June 23, 2000 (PRIMEZONE) -- Basic Capital Management, Inc. Friday announced the company has obtained from its affiliate, Transcontinental Realty Investors, Inc. (NYSE:TCI - news), a secured loan, the proceeds of which were utilized to satisfy a portion of its margin obligations. American Realty Trust, Inc. (NYSE:ARB - news) alsoobtained a secured loan from TCI for the same purpose. A total of $6.1 million was funded, which allowed BCM and ART to pay off their respective margin debt relating to their shares of Income Opportunity Realty Investors, Inc. (AMEX:IOT - news) and to pay down approximately $3 million in margin debt related to other securities owned by BCM and ART. The margin debt was paid on June 22, 2000. BCM owns 108,802 shares of IOT. Basic Capital Management continues to negotiate with its margin debt lenders in regards to the stock of its other affiliates, American Realty Trust, Inc., Transcontinental Realty Investors, Inc. and National Realty, L.P. (AMEX:NLP - news). Basic Capital Management, Inc. is a Dallas-based real estate advisory company. For more information on the company, go to the web site at www.bcm-inc.com . -------------------------------------------------------------------------------- CONTACT: Phyllis Wolper Director, Investor Relations (214) 692-4902 investor.relations@bcminc.com biz.yahoo.com <<<<<<<<<<<<<<<<<<<<