Refco in Advanced Discussions With J.C. Flowers

Monday October 17, 8:05 am ET

NEW YORK, Oct. 17 /PRNewswire-FirstCall/ -- Refco, Inc. announced today that it is in advanced negotiations with a group of investors led by J.C. Flowers & Co. for the sale of the Company's futures brokerage business conducted through Refco LLC, Refco Overseas Ltd., Refco Singapore Pte. Ltd., and certain related subsidiaries and other assets. The Company expects that it will reach a memorandum of understanding with The J.C. Flowers & Co. Group shortly and will execute definitive agreements soon thereafter. There can be no assurance that any agreement ultimately will be reached or that the sale will be completed.
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2004

BAWAG sold its interests in Refco Group Ltd., LLC, a leading commodities and derivatives
brokerage firm, for several hundred million dollars in connection with the sale of Refco to
Thomas H. Lee Partners and its affiliates in a leveraged buyout valued at $2.25 billion.

(schlau gemacht)

Thursday 20 May 1999

BAWAG TO INVEST IN REFCO GROUP, LTD.

Distributed by PR Newswire on behalf of Refco Group

Vienna, Austria - Bank Fur Arbeit und Wirtchaft (BAWAG) Austria's fourth largest bank has entered into an agreement to make a substantial investment in Refco Group, Ltd. The initial stage of the investment was completed on May 14, 1999, and involved the acquisition by BAWAG of a 10 per cent interest in Refco Group, Ltd. This is the first major investment in an American financial institution by BAWAG, whose existing operations are primarily European.

"This is a natural step for us to expand our universal reach," said Mr. Helmut Elsner, Chairman of BAWAG. "Refco's leading role in the brokerage industry and its international infrastructure provides access to a platform which complements BAWAG's traditional strengths and AA financial rating."

"We are absolutely delighted by BAWAG's decision," said Phillip Bennett, Chief Executive Officer of Refco Group, Ltd. "Our objective is to provide BAWAG with insights into non-bank financial markets in which we have expertise and in doing so, create future opportunities of benefit to both parties and our respective clients." Mr. Bennett added that "this significant infusion of capital complements a number of important recent management changes at Refco and positions us well to achieve our strategic goals as we move into the 21st Century."

BAWAG has total assets in excess of ATS280 billion (US dlrs 21.7 billion) and 2,500 employees. As a "universal bank" with a total capital of ATS 17 billion (US dlrs 1.4 billion) and an operating profit in excess of ATS 2 billion (US dlrs 160 million), BAWAG is among Austria's best-capitalised and most profitable banks. This is confirmed by Moody's reaffirmation of the bank's AA rating.

Refco Group, Ltd. is a uniquely diversified financial services organisation with operations in 15 countries and an extensive global institutional client base. The Company is a market leader in the brokerage of listed futures and options. In addition, other Refco Group, Ltd.'s subsidiaries are leading dealers in cash commodity markets and international foreign exchange. The firm offers a full range of fixed-income products in both dollar and non-dollar markets and manages and administers client investments on a single account and pooled basis.

Copyright © 2005 PR Newswire Europe Limited

Affäre: No Future

Der Skandal um das US-Wertpapierhaus Refco zieht immer weitere
Kreise. Der unter Betrugsverdacht stehende Großaktionär und Ex-Chef
Phillip Bennett soll vor seiner Verhaftung versucht haben, in Österreich
abzutauchen. Die Wiener Gewerkschaftsbank Bawag bangt jetzt um 70
Millionen Dollar.

profil.at/articles/0541/560/123799.shtml



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