OTHER NEWS - July 8, 1992

Britain May Buy O&Y; Building: The British government might buy a building in the huge Canary Wharf office complex owned by Olympia & York Developments Ltd., sources close to talks between the government and court-appointed administrators said. The move could help salvage a plan to extend the London subway system to the Docklands area in East London. The subway project, which was to receive funds from O&Y;, has been in jeopardy since May, when Canary Wharf went into administration--a British form of bankruptcy protection. A government spokeswoman said reports of a possible purchase were speculation.