FACED with the threat of a law suit former Prime Minster Edward Seaga has apologised to Joseph Matalon, President of the Private Sector Organisation of Jamaica, (PSOJ).

Matalon threatened to sue Seaga following radio and television interviews in which he criticised Matalon for a statement he made that loss of profits was 'a small price to pay for the disturbances' in Tivoli Gardens which caused 76 deaths.

In a statement to the media, Seaga said he met with Matalon and was convinced that he misunderstood and misrepresented the statement.

"My statement was made innocently made and without malice in reaction to the media coverage of this matter of great public interest which helped create the misunderstanding and misrepresentation of Mr Joseph Matalon's statement which greatly distressed me. I regret any embar****ment, trauma or inconvenience caused by my remarks and unhesitatingly retract them," he said.