Heller Financial Inc – ‘8-K’ for 10/30/95 – EX-99

As of:  Tuesday, 10/31/95   ·   For:  10/30/95   ·   Accession #:  950131-95-3015   ·   File #:  1-06157

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         3      9K 
 2: EX-99       Announcement                                           3      9K 

EX-99   —   Announcement

EX-99
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Heller International Corporation
Announces the Death of Chairman and Chief Executive Officer 
Michael S. Blum 

  (Chicago, IL -- October 30, 1995) -- Michael S. Blum, Chairman and Chief
Executive Officer of Heller International Corporation, died suddenly on Sunday, 
October 29, of natural causes in Berlin, Germany.  He was 56 years old.         

    Heller plans to hold a special board of directors' meeting within the next
two weeks to determine a successor.  In the interim, the company will operate   
under the auspices of the Executive Committee.  The Fuji Bank, Limited, Heller's
parent company, has expressed a high degree of confidence in Heller's progress  
and direction as well as in the management team which Blum put in place during  
his five years as head of the company.                                          

    At the time of his death, Blum had been on a goodwill trip to Germany with
the American Jewish Committee.  His body will be brought back to Chicago later  
this week.  Information regarding funeral arrangements is not yet available.    

 Blum joined Heller in 1986 as President of Heller Real Estate Financial
Services and Executive Vice President of Heller International Corporation.  He  
became Vice                                                                     

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EX-99
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Chairman of Heller Financial, Inc., Heller International's primary operating    
subsidiary, in 1987 and Chief Executive Officer in late 1990.                   

     At the start of his tenure as Heller's CEO, Blum set out a clear vision for
the firm.  He and his team adopted a strategic business approach that centered  
on the development of Heller's core businesses and the expansion into new market
niches.  At the same time, Blum fostered a corporate culture that promoted      
teamwork, creativity and confidence-building.  A prominent part of this strategy
was to establish a customer-intimate marketing culture along with solid credit  
discipline.  Under his leadership, Heller Financial has enjoyed three           
consecutive years of record operational performance, buttressed by strong       
reserves and liquidity, and a growing equity base.                              

     "Mike understood the paramount importance of client relationships, and took
pains to ensure that Heller had the right people in each job.  As saddened as we
are, we are also grateful that Mike left Heller a strong company, well-         
positioned for the future," said Richard J.  Almeida, Chief Financial Officer.  
He added, "Just last year, Heller celebrated its 75th anniversary.  Mike was    
especially pleased that upon reaching such a milestone, the firm was, in his    
words, 'back on track'."                                                        

     Prior to joining Heller, Blum worked for General Electric Company beginning
in 1967 and held a variety of senior management positions.  When he left in     
1986, he was Senior Vice President and General Manager of General Electric      
Credit Corporation's real estate businesses, which encompassed real estate      
lending, mortgage insurance, mortgage banking and an industrial bank.  He was   
also an officer of the General Electric Company.  Blum received his Bachelor of 
Civil Engineering degree from the City College in New York in 1960 and his      
Master's of Business Administration from Rutgers University in 1965.            

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EX-99
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Blum's leadership was not limited to his firm, and he maintained a    
steadfast interest in community and cultural issues.  A strong and vocal        
advocate for quality education, he was an active board member of Chicago Cities 
in Schools organization, and encouraged Heller's employees to take an interest  
in their local communities in some meaningful way.  Blum was on the board of    
directors of Providence-St. Mel School, and a member of the Urban Land Institute
and the Executive Club.  In addition, he served on the Board of Governors of the
Chicago Chapter of The American Jewish Committee and was an Advisory Board      
Member for Northwestern University's J. L. Kellogg Graduate School of           
Management.  Over the years, Blum also served as a Director for both Fuji Bank  
and Trust Company and Fuji Securities, Inc.                                     

  Blum is survived by his wife, Sandy, and three children, Jan, Emily, and
Jennifer.  Also surviving him are his daughter-in-law, Tammy and his two        
grandsons, Matthew and Zachary.                                                 

   Heller International Corporation is a wholly owned subsidiary of The Fuji
Bank, Limited, one of the world's largest banks.  Heller International          
Corporation's primary subsidiary is Heller Financial, Inc., which provides U.S.-
based clients with cash flow financing, real estate financing, factoring and    
working capital loans, equipment financing and leasing, asset-based finance and 
equity investments.  The company also operates in European, Asian, and Latin    
American countries through joint venture and wholly owned companies that        
specialize in factoring, asset-based finance, acquisition finance, leasing,     
vendor finance and trade finance.                                               

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Dates Referenced Herein

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Filed on:		10/31/95							None on these Dates
For Period End:		10/30/95		1
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