OTHER NEWS - Aug. 4, 1992

Lehman Re-Establishes Mergers Unit: Lehman Bros., the investment banking unit of American Express Co.’s Shearson Lehman Bros. securities subsidiary, has resurrected its mergers and acquisitions department a year after dismantling it. Steve Wolitzer and Kenneth Tuchman, the two executives who ran the mergers department before, are heading the group again. Mergers and acquisitions activity, which tailed off the last couple of years after the junk bond market collapsed, is picking up again. The number of announced mergers increased 44% in the second quarter to 716 from 497 a year earlier, according to Merrill Lynch Brokerage & Valuation.