Corp., a B.V.I. corporation which announced that its majority shareholder has filed regulatory forms declaring a sale of the shares.

Presidio said this week that Farallon Capital management L.L.C., and certain affiliated investment funds (collectively, "Farallon'') have stated that they have sold its entire stock position to New York-based Presidio Holding Co., L.L.C.

Local management company, Hemisphere Management Ltd., is the offshore administrator for Presidio Capital. Presidio Capital was said to have been formed to take over the assets of a company called Integrated Resources, in liquidation.

They have been selling off the assets of Integrated Resources, realising capital and distributing it to shareholders in nine dividends over the past three years.

A PRNewswire story stated that Presidio Capital had been unable to ascertain the identity of the beneficial owners of the buyer, despite requests to both Farallon and the buyer's counsel.

The statement filed with regulators announcing the sale, said that the stock purchase agreement indicated as "illegible'' the name of the party signing on behalf of the buyer.

Hemisphere group manager, Tony Smith, who is in charge of this account, said, "I've been trying to find out more information about it from the managers who are based in the states (US).'' The announcement of the sale of the stock came at a time when Farallon was under investigation by a special committee of the Presidio Capital board of directors for possible securities law violations.

Presidio had indicated that they would call an emergency meeting of the board to address the situation.