<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
DAVCO RESTAURANTS, INC.
--------------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $.001
--------------------------------
(Title of Class of Securities)
238 330 10 4
--------------------------------
(CUSIP Number)
HELENE B. SHAVIN, CITICORP VENTURE CAPITAL, LTD., 399 PARK AVENUE, NEW YORK, NEW
YORK 10043
- --------------------------------------------------------------------------------
Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
SEPTEMBER 5, 1997
------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [X].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-a(a) for other parties to whom copies are to be
sent.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 13 pages
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CUSIP No. 238330 104 13D Page 2 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Citicorp 13-2614988
================================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
================================================================================
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or (e) [x]
================================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================================================
7 SOLE VOTING POWER
3,133,049
================================================================
8 SHARED VOTING POWER
None
NUMBERS OF ================================================================
SHARES
BENEFICIALLY 9 SOLE DISPOSITIVE POWER
OWNED BY
EACH 3,133,049
REPORTING
PERSON WITH ================================================================
10 SHARED DISPOSITIVE POWER
None
================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None, except through its wholly-owned subsidiary, Citibank, N.A., and its
wholly-owned subsidiary, Citicorp Venture Capital Ltd.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
See Line 11, above.
================================================================================
14 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 238330 104 13D Page 3 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Citibank, N.A. 13-5266470
================================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
================================================================================
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or (e) [x]
================================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
A national banking association.
================================================================================
7 SOLE VOTING POWER
3,133,049
================================================================
8 SHARED VOTING POWER
None
NUMBERS OF ================================================================
SHARES
BENEFICIALLY 9 SOLE DISPOSITIVE POWER
OWNED BY
EACH 3,133,049
REPORTING
PERSON WITH ================================================================
10 SHARED DISPOSITIVE POWER
None
================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None, except through its wholly-owned subsidiary, Citicorp Venture Capital
Ltd.
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
================================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
See Line 11, above.
================================================================================
14 TYPE OF REPORTING PERSON*
BK
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 238330 104 13D Page 4 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Citicorp Venture Capital Ltd. 13-2598089
================================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
================================================================================
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or (e) [ ]
================================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
================================================================================
7 SOLE VOTING POWER
3,133,049
================================================================
8 SHARED VOTING POWER
None
NUMBERS OF ================================================================
SHARES
BENEFICIALLY 9 SOLE DISPOSITIVE POWER
OWNED BY
EACH 3,133,049
REPORTING
PERSON WITH ================================================================
10 SHARED DISPOSITIVE POWER
None
================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,133,049
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
================================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.51%
================================================================================
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 238330 104 13D Page 5 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ronald D. Kirstien SS ####-##-####
================================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
================================================================================
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or (e) [x]
================================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
================================================================================
7 SOLE VOTING POWER
483,038
================================================================
8 SHARED VOTING POWER
None
NUMBERS OF ================================================================
SHARES
BENEFICIALLY 9 SOLE DISPOSITIVE POWER
OWNED BY
EACH 483,038
REPORTING
PERSON WITH ================================================================
10 SHARED DISPOSITIVE POWER
None
================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
483,038
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
================================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.86%
================================================================================
14 TYPE OF REPORTING PERSON* IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 238330 104 13D Page 6 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harvey Rothstein SS ####-##-####
================================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
================================================================================
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or (e) [x]
================================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
================================================================================
7 SOLE VOTING POWER
297,157.67
================================================================
8 SHARED VOTING POWER
None
NUMBERS OF ================================================================
SHARES
BENEFICIALLY 9 SOLE DISPOSITIVE POWER
OWNED BY
EACH 297,157.67
REPORTING
PERSON WITH ================================================================
10 SHARED DISPOSITIVE POWER
None
================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
297,157.67
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
================================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.22%
================================================================================
14 TYPE OF REPORTING PERSON IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 238330 104 13D Page 7 of 13 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jonathan A. Rothstein SS ####-##-####
================================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
================================================================================
4 SOURCE OF FUNDS*
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or (e) [x]
================================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
================================================================================
7 SOLE VOTING POWER
83,333.33
================================================================
8 SHARED VOTING POWER
None
NUMBERS OF ================================================================
SHARES
BENEFICIALLY 9 SOLE DISPOSITIVE POWER
OWNED BY
EACH 83,333.33
REPORTING
PERSON WITH ================================================================
10 SHARED DISPOSITIVE POWER
None
================================================================================
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
83,333.33
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
================================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.18%
================================================================================
14 TYPE OF REPORTING PERSON IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP NO. 238330 104 Page 8 of 13 pages
This Statement on Schedule 13D is being filed pursuant to Rule 13d-1(b)(3)
of the Securities Exchange Act of 1934, as amended (the "Exchange Act") to
reflect the formation of a group by the Reporting Persons with the purpose of
effecting a change of control of the issuer in which the Reporting Persons
would acquire, through a merger transaction with a company formed by them, all
of the Company's issued and outstanding common stock, par value $.001 per
share.
Item 1. Security and Issuer
------- -------------------
This Statement relates to shares of common stock, par value $.001 per
share (the "Shares"), of Davco Restaurants, Inc., a Delaware corporation (the
"Company").
The address of the Company's principal executive office is: 1657
Crofton Boulevard, Crofton, MD 21114
Item 2. Identity and Background
------- -----------------------
(a) This Statement constitutes the joint filing of Schedule 13D by
(1) Citicorp, a Delaware corporation ("Citicorp"), (2) Citibank, N.A., a
national banking association ("Citibank"), (3) Citicorp Venture Capital, Ltd.,
a New York corporation ("CVC"), (4) Ronald D. Kirstien ("Kirstien"), (5) Harvey
Rothstein ("H. Rothstein") and (6) Jonathan A. Rothstein ("J. Rothstein", and
together with Citicorp, Citibank, CVC, Kirstien and H. Rothstein, the
"Reporting Persons"). This statement relates to the formation of a group by
the Reporting Persons for the purposes of making a proposal to the Company's
board of directors whereby a company formed by the Reporting Persons would
acquire all of the Company's issued and outstanding shares of common stock. A
list of the directors and executive officers of Citicorp, Citibank and CVC is
attached hereto as Annex A.
Information with respect to each of the Reporting Persons is given
solely by such Reporting Person, and no Reporting Person has responsibility for
the accuracy or completeness of the information supplied by another Reporting
Person and each Reporting Person agrees that this Statement is filed on behalf
of such Reporting Person only.
The Reporting Persons may be deemed to constitute a "group" for the
purpose of Rule 13d-3 of the Exchange Act.
(b) The address of the principal business office of each Reporting
Person is as follows:
Reporting Person Address
- ------------------------ -------------------------
Citicorp 399 Park Avenue
New York, New York 10043
Citibank 399 Park Avenue
New York, New York 10043
CVC 399 Park Avenue
New York, New York 10043
Kirstien 1657 Crofton Boulevard
Crofton, MD 21114
H. Rothstein 1657 Crofton Boulevard
Crofton, MD 21114
J. Rothstein 1657 Crofton Boulevard
Crofton, MD 21114
(c) Citibank is a wholly-owned subsidiary of Citicorp. Citibank is
principally engaged in the general banking business and Citicorp is a multi-
bank holding company principally engaged, through its subsidiaries, in the
general financial services business.
Kirstien is presently President and Chief Executive Officer of the
Company.
8
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CUSIP NO. 238330 104 Page 9 of 13 pages
H. Rothstein is presently Executive Vice President of the Company.
J. Rothstein has no association with the Company other than as a
shareholder.
(d) During the last five years, none of the Reporting Persons, and to
the knowledge of each Reporting Person, as applicable, none of the executive
officers or directors of such Reporting Person, as applicable, has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) Except as described herein, during the last five years, none of
the Reporting Persons, and to the knowledge of each Reporting Person, none of
the executive officers or directors of such Reporting Person, as applicable,
has been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which such person was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, Federal and state securities laws or
finding any violation with respect to such laws. In 1992 Citibank consented to
orders issued by the Securities and Exchange commission ("SEC") and the
Comptroller of the Currency, without admitting or denying allegations and
findings, with respect to findings that Citibank violated certain securities
laws in its role as a transfer agent with respect to the proper safeguarding
and destruction of canceled securities certificates. The orders, and related
facts and circumstances, were described in Current Reports on Form 8-K, dated
July 21, 1992, and January 19, 1993, that Citicorp previously filed with the
SEC.
(f) Citicorp is a Delaware corporation. Citibank is a national
banking association. CVC is a New York corporation. Except as otherwise
indicated on Annex A, to the knowledge of Citicorp, Citibank and CVC, each
-------
executive officer and director of such Reporting Person is a citizen of the
United States.
Kirstien, H. Rothstein and J. Rothstein are citizens of the United
States.
Item 3. Source and Amount of Funds
- ------- --------------------------
The Shares beneficially owned by CVC were issued in August 1993 in
exchange for common stock acquired by CVC in February, 1993 in exchange for
certain preferred stock issued by the Company to a CVC affiliate in connection
with a loan made in 1987. No cash consideration has been paid by CVC to the
Company for its Shares.
250,000 of the 483,038 Shares beneficially owned by Kirstien are
Shares Kirstien was issued in August 1993 in settlement of certain litigation
with the Company. The remaining 233,038 Shares held of record by Kirstien were
issued pursuant to management stock options. No cash consideration has been
paid by Kirstien to the Company for his Shares.
166,666.67 of the 297,157.67 Shares beneficially owned by H. Rothstein
are Shares H. Rothstein was issued in August 1993 in settlement of certain
litigation with the Company. The remaining 130,491 Shares are held of record by
H. Rothstein were issued pursuant to management stock options. No cash
consideration has been paid by H. Rothstein to the Company for his Shares.
The 83,333.33 Shares beneficially owned by J. Rothstein are Shares J.
Rothstein was issued in August 1993 in settlement of certain litigation with the
Company. No cash consideration has been paid by J. Rothstein to the Company for
his Shares.
Item 4. Purpose of Transaction
- ------- ----------------------
On September 5, 1997, the Reporting Persons submitted a proposal to
the Board of Directors of the Company whereby a company formed by the Reporting
Persons would acquire, in a merger transaction (the "Merger") all of the
Company's issued and outstanding common stock, par value $.001 per share, for
cash consideration of $18.00 to $20.00 per share. The proposal is subject to
customary conditions, including the negotiation of a definitive merger
agreement satisfactory to the Company and the Reporting Persons, regulatory
approvals, procurement of financing and approval of the Company's Board of
Directors.
As a result of the Merger, the Company's Shares would be delisted
from the American Stock Exchange and deregistered under Section 12 of the
Exchange Act.
Item 5. Interest in Securities of Issuer
- ------- --------------------------------
(a) CVC is the beneficial owner of 3,133,049 Shares or approximately
44.51% of the issued and outstanding Shares. CVC disclaims beneficial ownership
of any Shares beneficially owned by the other Reporting Persons.
Kirstien is the beneficial owner of 483,038 Shares or approximately
6.86% of the issued and outstanding Shares. Kirstien disclaims beneficial
ownership of any Shares beneficially owned by the other Reporting Persons.
9
<PAGE>
CUSIP NO. 238330 104 Page 10 of 13 pages
H. Rothstein is the beneficial owner of 297,157.67 Shares or
approximately 4.22% of the issued and outstanding Shares. Rothstein disclaims
beneficial ownership of any Shares beneficially owned by the other Reporting
Persons.
J. Rothstein is the beneficial owner of 83,333.33 Shares or
approximately 1.18% of the issued and outstanding Shares. Rothstein disclaims
beneficial ownership of any Shares beneficially owned by the other Reporting
Persons.
(b) CVC has the sole power to vote 3,133,049 Shares and sole power to
dispose of 3,133,049 Shares.
Kirstien has the sole power to vote 483,038 Shares and sole power to
dispose of 483,038 Shares.
H. Rothstein has the sole power to vote 297,157.67 Shares and sole
power to dispose of 297,157.67 Shares.
J. Rothstein has the sole power to vote 83,333.33 Shares and sole
power to dispose of 83,333.33 Shares.
(c) Not Applicable.
(d) Not Applicable.
(e) Not Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
------- ---------------------------------------------------------------------
to Securities of the Issuer
---------------------------
To the extent such information was available on the date hereof, to
the knowledge of each Reporting Person on the date hereof, except as set forth
herein or in the Exhibits, if any, filed herewith, no Reporting Person nor any
of its directors or executive officers, as applicable, has any other contracts,
arrangements, understandings or relationships (legal or otherwise) with any
person with respect to any securities of the Company, including, but not
limited to, transfer or voting of any securities of the Company, finder's fees,
joint ventures, loan or option arrangements, puts or calls, guarantees or
profits, division of profits or loss or the giving or withholding of proxies.
Item 7. Materials to Be Filed as Exhibits
------- ---------------------------------
Exhibit 1 Joint Filing Agreement, dated September 19, 1997, between
CVC, Citibank, Citicorp, Kirstien, H. Rothstein and J. Rothstein.
10
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CUSIP NO. 238330 104 Page 11 of 13 pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.
September 21, 1997 CITICORP
By: /s/ Patricia K. Perlman
-----------------------
Patricia K. Perlman
Assistant Secretary, Citicorp
CITIBANK, N.A.
By: /s/ Patricia K. Perlman
-----------------------
Patricia K. Perlman
Vice President, Citibank, N.A.
CITICORP VENTURE CAPITAL, LTD.
By: /s/ Helene B. Shavin
--------------------
Helene B. Shavin
Assistant Vice President
/s/ Ronald D. Kirstien
-------------------------
Ronald D. Kirstien
/s/ Harvey Rothstein
-----------------------
Harvey Rothstein
/s/ Jonathan A. Rothstein
-------------------------
Jonathan A. Rothstein
11
<PAGE>
Annex A
-------
Citicorp
- --------
Directors Executive Officers
- --------- ------------------
Alain J.P. Belde (Brazil) William I. Campbell (Canada)
D. Wayne Calloway Paul J. Collins
Paul J. Collins Edward Horowitz
Kenneth T. Derr Thomas E. Jones (England)
John M. Deutch Charles E. Long
Reuben Mark Dionisio R. Martin (Argentina)
Richard D. Parsons Robert A. McCormack
John S. Reed Victor J. Menezes (India)
William R. Rhodes Lawrence R. Phillips
Rozanne L. Ridgeway John S. Reed
H. Onno Ruding (Netherlands) William R. Rhodes
Robert B. Shapiro John J. Roohe
Frank A. Shrontz H. Onno Ruding (Netherlands)
Franklin A. Thomas Mary Alice Taylor
Edgar S. Woolard, Jr.
Citibank
- --------
Directors Executive Officers
- --------- ------------------
D. Wayne Calloway (same as Citicorp above)
Paul J. Collins
John M. Deutch
Reuben Mark
Richard D. Parsons
John S. Reed
William R. Rhodes
12
<PAGE>
Rozanne L. Ridgeway
Robert B. Shapiro
Frank A. Shrontz
Franklin A. Thomas
CVC
- ---
Directors Executive Officers
- --------- ------------------
William T. Comfort William T. Comfort
Ann M. Goodbody Richard M. Cashin
Thomas E. Jones Byron L. Knief
Frederick A. Roesch Charles E. Corpening
Michael A. Delaney
Noelle M. Doumar
David Y. Howe
Richard E. Mayberry
Thomas F. McWilliams
M. Saleem Muqaddam
Paul C. Schorr
Joseph M. Silvestri
David F. Thomas
James A. Urry
John D. Weber
Lauren M. Connelly
Helene B. Shavin
Thomas H. Sanders
13
<PAGE>
Agreement dated September 23, 1997
Re Joint Filing of Schedule 13D
-------------------------------
The undersigned hereby agree that:
(i) each of them is individually eligible to use the Schedule 13D
attached hereto;
(ii) the attached Schedule 13D is filed on behalf of each of them; and
(iii) each of them is responsible for the timely filing of such Schedule
13D and any amendments thereto, and for the completeness and
accuracy of the information therein concerning him or itself; but
none of them is responsible for the completeness or accuracy of the
information concerning the other persons making the filing, unless
he or it knows or has reason to believe that such information is
inaccurate.
Citicorp
Ronald D. Kirstien By:____________________________
/s/ Ronald D. Kirstien Name:__________________________
_________________________ Title:___________________________
Harvey Rothstein Citibank, N.A.
/s/ Harvey Rothstein
_________________________ By:____________________________
Name:__________________________
Title:___________________________
Jonathan A. Rothstein Citicorp Venture Capital, Ltd.
/s/ Jonathan A. Rothstein
__________________________ By:____________________________
Name:__________________________
Title:___________________________
