Kelly Capital invests in Fremont General

By Lisa Kerner

Charlotte, N.C., March 10 - Investors led by Kelly Capital Investments, LLC bought 5,716,818 shares of Fremont General Corp.'s stock for a 7.2% initial ownership interest in the company.

The shares were acquired between Feb. 5 and March 3 priced from $0.83 to $3.37, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

According to the filing, the investors intend to sell a sufficient number of shares of common stock to reduce their holdings below 5% in order to avoid being considered an "acquiring person" under Fremont General's Oct. 23, 2007 rights agreement.

Fremont General is a financial services holding company located in Santa Monica, Calif.

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