MITSUI &lt;MITSY>, SECURITY PACIFIC &lt;SPC> SET PACT

  Mitsui and Co Ltd said it has
  signed a letter of intent with Security Pacific Corp to buy 50
  pct of Japan Security Pacific Finance Co Ltd, for an
  undisclosed sum, to form a joint venture.
      Japan Security Pacific has assets of 200 mln dlrs.
      The joint venture will introduce various financial products
  to the customer base of Mitsui and its group of companies, the
  company said.
      Security Pacific will provide expertise in consumer and
  commercial lending, as well as data processing support.
      Japan Security Pacific Finance is a wholly-owned subsidiary
  of Security Pacific International Finance Inc, which is owned
  by Security Pacific Corp.
      Security Pacific said in addition to originating consumer
  and commercial loans and leases, the joint venture will market
  related financial products and services.
  

