SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
ARM Financial Group, Inc.
(Name of Issuer)
Class A Convertible Common Stock, par value $.01
(Title of Class of Securities)
001944107
(CUSIP Number)
Check the following box if a fee is being paid with this
statement|_| . (A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent or
less of such class.) (See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
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 (the "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>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 2 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Morgan Stanley Leveraged Equity Fund II, L.P.
06-6312775
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 6,001,846
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
6,001,846
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
6,001,846 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
28.16
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 4 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley Leveraged Equity Fund II, Inc.
06-1214256
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 6,001,846
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
6,001,846
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
6,001,846 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
28.16
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 6 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley Capital Partners III, L.P.
13-3788889
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 3,907,147
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
3,907,147
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,907,147 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
18.33
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 8 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley Capital Investors, L.P.
13-3788893
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 114,847
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
114,847
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
114,847 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.54
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 10 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MSCP III 892 Investors, L.P.
13-3788895
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 417,239
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
417,239
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
417,239 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.96
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 12 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MSCP III, L.P.
13-3788890
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 4,439,233
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
4,439,233
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
4,439,233 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
20.83
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 14 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley Capital Partners III, Inc.
13-3720548
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 4,439,233
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
4,439,233
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
4,439,233 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
20.83
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
- ----------------------- -----------------------
CUSIP No. 001944107 13G Page 16 of 24 Pages
- ----------------------- -----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Morgan Stanley, Dean Witter, Discover & Co.
13-2838811
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 10,441,079
OWNED BY --------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
10,441,079
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,441,079 (1)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* |_|
- -------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
48.98
- -------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) In addition to the Class A Convertible Common Stock, the reporting person
beneficially owns non-voting Class B Convertible Common Stock which is
convertible into Class A Common Stock under certain circumstances.
<PAGE>
Page 18 of 24 Pages
Item 1(a). Name of Issuer.
ARM Financial Group, Inc. (the "Company")
Item 1(b). Address of Issuer's Principal Executive Offices.
515 W. Market Street
Louisville, KY 40202
Item 2(a). Name of Person Filing.
This statement is filed on behalf of the persons identified in Item 4
below. In accordance with Rule 13d-1(f)(1) under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), each person filing this statement
acknowledges that it is responsible for the completeness and accuracy of the
information concerning that person but is not responsible for the completeness
or accuracy of the information concerning the other persons making the filing,
unless such person knows or has reason to believe that such information is
inaccurate.
Item 2(b). Address of Principal Business Office or, if None, Residence.
The business address of Morgan Stanley, Dean Witter, Discover & Co.
("MSDWD") is 1585 Broadway, New York, New York 10036 and of each of The Morgan
Stanley Leveraged Equity Fund II, L.P., Morgan Stanley Leveraged Equity Fund II,
Inc., Morgan Stanley Capital Partners III, L.P., MSCP III 892 Investors, L.P.,
Morgan Stanley Capital Investors, L.P., MSCP III, L.P., and Morgan Stanley
Capital Partners III, Inc. ("MSCP III, Inc.") is 1221 Avenue of the Americas,
New York, New York 10020.
Item 2(c). Citizenship.
Each of the persons filing this statement is a United States citizen, a
corporation or limited partnership organized under the laws of a state of the
United States or a trust created or governed under the laws of a state of the
United States.
Item 2(d). Title of Class of Securities.
This statement relates to the Company's Class A Convertible Common
Stock, $.01 par value per share.
Item 2(e). CUSIP Number.
001944107
<PAGE>
Page 19 of 24 Pages
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) |_| Broker or Dealer registered under Section 15 of the Act,
(b) |_| Bank as defined in Section 3(a)(6) of the Act,
(c) |_| Insurance Company as defined in Section 3(a)(19) of the Act,
(d) |_| Investment Company registered under Section 8 of the
Investment Company Act,
(e) |_| Investment Adviser registered under Section 203 of the
Investment Advisors Act of 1940,
(f) |_| Employee Benefit Plan, Pension Fund which is
subject to the provisions of the Employee Retirement
Income Security Act of 1974 or Endowment Fund; see
Section 240.13d-1(b)(1)(ii)(F),
(g) |_| Parent Holding Company, in accordance with Section 240.13d-
1(b)(1)(ii)(G) (Note: See Item 7),
(h) |_| Group, in accordance with Section 240.13d-1(b)(1)(ii)(H).
Not applicable.
Item 4. Ownership.
(a), (b) and (c)
The filing of this statement should not be construed as an admission by
any person that such person is, for purposes of Section 13(d) or 13(g) of the
Exchange Act, the beneficial owner of any securities covered by the statement,
other than the securities set forth opposite such person's name in the table
below. The table below indicates the beneficial ownership of Common Stock as of
December 31, 1997 of the persons filing this statement:
<PAGE>
Page 20 of 24 Pages
Beneficial Percent of
Ownership (1) Class (2)
------------- ----------
MSCP III, L.P. (3) 4,439,233 20.83
MSCP III, Inc. (3) 4,439,233 20.83
The Morgan Stanley Leveraged 6,001,846 28.16
Equity Fund II, L.P. (4)
Morgan Stanley 6,001,846 28.16
Leveraged Equity Fund II, Inc. (4)
Morgan Stanley Capital Investors, L.P. 114,847 0.54
(5)
MSCP III 892, L.P. (5) 417,239 1.96
- --------------------------------------------------------------------------------
Morgan Stanley Capital Partners III, 3,907,147 18.33
L.P. (5)
- --------------------------------------------------------------------------------
MSDWD (6) 10,441,079 48.98
================================================================================
(1) Each person has sole voting and dispositive power with respect to
the shares shown as beneficially owned, except as indicated below.
(2) Based on 21,316,068 shares of Common Stock outstanding as of
December 31, 1997.
(3) The sole general partner of MSCP III, L.P. is MSCP III, Inc., a
wholly owned subsidiary of MSDWD. MSCP III, Inc. may be deemed to have shared
voting and dispositive power with respect to shares held by it of MSCP III, L.P.
(4) The sole general partner of The Morgan Stanley Leveraged Equity
Fund II, L.P. is Morgan Stanley Leveraged Equity Fund II, Inc., a wholly owned
subsidiary of MSDWD. Morgan Stanley Leveraged Equity Fund II, Inc. may be deemed
to have shared voting and dispositive power with respect to shares held by it of
The Morgan Stanley Leveraged Equity Fund II, L.P.
<PAGE>
Page 21 of 24 Pages
(5) The sole general partner of each of Morgan Stanley Capital Partners
III, L.P., Morgan Stanley Capital Investors, L.P. and MSCP III 892 Investors,
L.P. is MSCP III, L.P. whose sole general partner is MSCP III, Inc., a wholly
owned subsidiary of MSDWD. MSCP III, L.P. and MSCP III, Inc. may each be deemed
to have shared voting and dispositive power with respect to shares held by it of
each of Morgan Stanley Capital Partners III L.P., Morgan Stanley Capital
Investors, L.P. and MSCP III 892 Investors, L.P.
(6) MSDWD may be deemed to have shared voting and dispositive power
with respect to any shares held by MSCP III, Inc. and Morgan Stanley Leveraged
Equity Fund II Inc. See footnotes 3, 4 and 5 above.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following. |_|
Item 6. Ownership of More than Five Percent on Behalf of
Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
See Exhibit 1.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Not applicable.
<PAGE>
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.
Date: February 12, 1998
MORGAN STANLEY, DEAN WITTER,
DISCOVER & CO.
By:/s/ Peter R. Vogelsang
-------------------------
Name: Peter R. Vogelsang
Title: Authorized Signatory
THE MORGAN STANLEY LEVERAGED
EQUITY FUND II, L.P.
By: Morgan Stanley Leveraged
Equity Fund II, Inc., its
general partner
By:/s/ Peter R. Vogelsang
-------------------------
Name: Peter R. Vogelsang
Title: Secretary
MORGAN STANLEY LEVERAGED
EQUITY FUND II, INC.
By:/s/ Peter R. Vogelsang
-------------------------
Name: Peter R. Vogelsang
Title: Secretary
<PAGE>
MORGAN STANLEY CAPITAL
PARTNERS III L.P.
By: MSCP III L.P., its
general partner
By: MORGAN STANLEY CAPITAL
PARTNERS III, INC., its
general partner
By:/s/ Peter R. Vogelsang
-------------------------
Name:Peter R. Vogelsang
Title: Secretary
MSCP III 892 Investors, L.P.
By: MSCP III L.P., its
general partner
By: MORGAN STANLEY CAPITAL
PARTNERS III, INC., its
general partner
By:/s/ Peter R. Vogelsang
-------------------------
Name:Peter R. Vogelsang
Title: Secretary
MORGAN STANLEY CAPITAL
INVESTORS, L.P.
By: MSCP III L.P., its
general partner
By: MORGAN STANLEY CAPITAL
PARTNERS III, INC., its
general partner
By:/s/ Peter R. Vogelsang
-------------------------
Name:Peter R. Vogelsang
Title: Secretary
<PAGE>
MSCP III L.P.
By: MORGAN STANLEY CAPITAL
PARTNERS III, INC., its
general partner
By:/s/ Peter R. Vogelsang
-------------------------
Name: Peter R. Vogelsang
Title: Secretary
MORGAN STANLEY CAPITAL
PARTNERS III, INC.
By:/s/ Peter R. Vogelsang
-------------------------
Name: Peter R. Vogelsang
Title: Secretary
Attention. Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001).
<PAGE>
Exhibit 1
1. The Morgan Stanley Leveraged Equity Fund, L.P.
2. Morgan Stanley Leveraged Equity Fund, Inc.
3. Morgan Stanley Capital Partners III, L.P.
4. Morgan Stanley Capital Investors, L.P.
5. MSCP III 892 Investors, L.P.
6. MSCP III, L.P.
7. Morgan Stanley Capital Partners III, Inc.
8. Morgan Stanley, Dean Witter, Discover & Co.
<PAGE>
Exhibit 2
MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
SECRETARY'S CERTIFICATE
-----------------------
I, Charlene R. Herzer, a duly elected and acting Assistant
Secretary of Morgan Stanley, Dean Witter, Discover & Co., a corporation
organized and existing under the laws of the State of Delaware (the
"Corporation"), certify that, as approved by a Unanimous Consent of Directors in
Lieu of a Meeting dated as of May 31, 1997, Peter R. Vogelsang is authorized to
sign any documents on behalf of the Corporation which are to be filed with Sany
government or regulatory agency in connection with the Merchant Banking
Division.
IN WITNESS WHEREOF, I have hereunto set my name and affixed
the seal of the Corporation as of the 11th day of February, 1998.
/s/ Charlene R. Herzer
-------------------------
Charlene R. Herzer
Assistant Secretary
[SEAL]
