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BRIEFLY

July 24, 1987

An investors group has increased its stake in Cannon Group. Intercorporation S.A., a Luxembourg-based company recently formed to invest in the troubled Los Angeles movie company, said it has purchased 142,850 shares of Cannon's common stock on the open market, increasing its holdings to about 26% from 24%. Intercorporation said it paid prices ranging from $2.875 to $4.375 per share, or a total of $512,487.50 for 142,850 shares. Intercorporation also amended an earlier filing to state that two key Cannon executives, Menahem Golan and Yoram Globus, presently control 1.36 million shares and intend to contribute those shares to Intercorporation.

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