Legal & General tenders for Potomac Trust Capital class A securities

By Susanna Moon

Chicago, Aug. 16 - Legal & General America, Inc. said it began a tender offer for Potomac Trust Capital's series 2004-I through 2004-XI class A money market securities.

The company is offering $8,500 for each $10,000 principal amount of the securities.

Holders also will receive accrued interest to the settlement date, which will promptly follow the expiration, according to a company press release.

The offer will end at midnight ET on Sept. 14.

Tendered securities may be withdrawn at any time before the expiration.

The offer is not contingent on the company obtaining financing or the tender of any minimum principal amount of securities.

Nomura Securities International, Inc. (800 638-2268) is the dealer manager. Global Bondholder Services Corp. (866 736-2200 or 212-430-3774) is the information agent.

Rockville, Md.-based Legal & General America is the holding company for the U.S. insurance operations of Legal & General Group plc, a London-based provider of risk, savings and investment management products.

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