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BRIEFLY

September 28, 1987

Citadel Holding Corp. said it has reached an agreement that would limit the holdings of a large minority shareholder and give it the support of those shares in any takeover fight for 10 years. The standstill agreement involves two subsidiaries of Tucson Electric Power, Santa Cruz Resources and Sierrita Resources. The Tucson Electric units now own 14.9% of Glendale-based Citadel's stock. Under the new agreement, Santa Cruz and Sierrita won't increase their holdings to more than 24.9% of Citadel's shares and will vote those shares in accordance with Citadel's board regarding any proposed business combination or anti-takeover measure.

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