Mr. Alfred "Lee" Loomis Jr., a businessman and avid sailor, died last Wednesday, 7 September, 1994, at Columbia Presbyterian Hospital in Manhattan, where he had been admitted for tests. The cause of death was not known, said his daughter, Candace DiLello. He was 81.

Mr. Loomis had homes in Bluffton, S.C., and Oyster Bay, L.I. During his mid-30's he won a gold medal in the 1948 Olympic Games in Britain while sailing a 6-Meter yacht. In 1977, he was manager of the Independence-Courageous syndicate, the yachting team that successfully defended the America's Cup that year.

After spending his childhood in Tuxedo Park, N.Y., Mr. Loomis graduated from Harvard College in 1935 and from Harvard Law School in 1939. He served as a flag lieutenant in the United States Navy in World War II and served as a personal assistant to (then Vice) Admiral John Towers throughout the war. (Flag Lieutenant was a temporary rank during WWI which was senior to a naval Captain but now is a term used to identify an adjutant or "aide de camp"). He then became one of the nation's first venture capitalists. He was involved with domestic oil and gas drilling operations.

VAdm. Towers, WWII:
Promoted to vice admiral on 6 October 1942, Towers became Commander Air Force, Pacific Fleet. From this billet, he wisely and effectively supervised the development, organization, training, and supply of the Fleet's growing aviation capability. For his sound judgment and keen resourcefulness, Towers received, successively, the Legion of Merit Medal and the Distinguished Service Medal. In August 1945, he received command of the 2d Carrier Task Force and Task Force 38, Pacific Fleet. On 7 November 1945, he broke his flag in the battleship New Jersey (BB-62) as Commander, 5th Fleet.