OTHER NEWS - May 27, 1994

Chunnel Taps Shareholders, Predicting Losses: Operators of the Channel Tunnel said they will need another $2.26 billion to keep the undersea passage from England to France in business over the next few years. Eurotunnel, which opened the tunnel months late and billions of dollars over budget, is nearly broke and says it needs the cash to stay alive until it can break even. The company asked shareholders to put up an additional $1.22 billion and said bankers have agreed to kick in another $1.04 billion in available credit. Eurotunnel predicted a pretax loss of $573 million this year on revenue of $205.5 million. Revenue will rise in 1995, but so will losses, Eurotunnel said. The company predicted a pretax profit of $433.5 million in 1996.