OTHER NEWS - Feb. 28, 1994

Westinghouse Paid Executive $14 Million: Former Transamerica executive Robert A. Watson, whose job until December was to liquidate the assets of Westinghouse Financial Services Inc., was paid that amount for a job that lasted 18 months, the Pittsburgh company’s preliminary proxy statement shows. The ailing credit unit had lost billions of dollars after commercial real estate developers and other businesses defaulted on loans. The losses left Westinghouse Electric Corp. with debt of $8.4 billion by the end of 1992. Watson headed Westinghouse Financial Services and supervised the sale of its real estate portfolio and assets of more than $8 billion. Since the end of 1992, Westinghouse has reduced its debt to less than $4 billion.