FOG CUTTER CAPITAL GROUP INC. ANNOUNCES 2003 ANNUAL MEETING OF STOCKHOLDERS
April 30, 2003
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FOR:
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FOG CUTTER CAPITAL GROUP INC.
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CONTACT:
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Fog Cutter Capital Group Inc.
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(503) 721-6500 Andrew A. Wiederhorn, Chairman and CEO
(503) 721-6500 Robert Rosen, President, or
(503) 721-6500 R. Scott Stevenson, Chief Financial Officer
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For Immediate Release
FOG CUTTER CAPITAL GROUP INC. ANNOUNCES 2003 ANNUAL MEETING OF STOCKHOLDERS
PORTLAND, Oregon.- April 30, 2003 -- Fog Cutter Capital Group Inc. (Nasdaq: FCCG) has announced that it will hold its 2003 Annual Meeting of Stockholders on May 28, 2003 at 10:00 a.m. Eastern Time at the offices of Orrick, Herrington & Sutcliffe LLP, 666 Fifth Avenue, New York, NY 10103.
At the meeting, shareholders of record as of April 17, 2003 will be asked to elect seven directors to the Board of Directors of the Company and ratify the appointment of Ernst & Young LLP as independent accountants for the fiscal year ending December 31, 2003.
Stockholders are encouraged to review the Company's definitive proxy statement, which was filed with the Securities and Exchange Commission on April 30, 2003, and which is also being mailed to shareholders of record.
Fog Cutter Capital Group Inc. focuses on investing, structuring and managing a wide range of financial assets, including the acquisition of debt or equity positions in companies requiring assistance in restructuring their operations; investments in mortgage-backed securities; provision of corporate mezzanine financing and other similar investments. The Company invests where its expertise in intensive asset management, credit analysis and financial structuring can create value and provide an appropriate risk-adjusted rate of return. The Company maintains a flexible approach with respect to the nature of its investments, seeking to take advantage of opportunities as they arise or are developed.
Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements. All of the statements contained in this release, which are not identified as historical, should be considered forward-looking. In connection with certain forward-looking statements contained in this release and those that may be made in the future by or on behalf of the company which are identified as forward-looking, the company notes that there are various factors that could cause actual results to differ materially from those set forth in any such forward-looking statements. Such factors include but are not limited to, the real estate market, the specialty retail market , the availability of financing, interest rates, and European markets. Accordingly, there can be no assurance that the forward-looking statements contained in this release will be realized or that actual results will not be significantly higher or lower. The forward-looking statements have not been audited by, examined by, or subjected to agreed-upon procedures by independent accountants, and no third party has independently verified or reviewed such statements. Readers of this release should consider these facts in evaluating the information contained herein. The inclusion of the forward-looking statements contained in this release should not be regarded as a representation by the company or any other person that the forward-looking statements contained in this release will be achieved. In light of the foregoing, readers of this release are cautioned not to place undue reliance on the forward-looking statements contained herein.
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