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BRIEFLY

December 18, 1987

Olympia & York Developments of Toronto said it has increased its holding in Santa Fe Southern Pacific to 8.23% of outstanding common shares, a total that assumes the exercise of call options owned by O&Y, according to a regulatory filing. The Canadian firm's current stake is up from the 6.94%. O&Y said it paid $88.8 million for 1.9 million shares, or an average $46.32 per share, between Dec. 9 and 16 for the additional stock. An O&Y spokesman in New York refused to comment on the purchases.

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