In [Linear Algebra Appl., 161:227{263, 1992] the LCP-property of a nite set of square complex matrices was introduced and studied. A set is an LCP-set if all left in nite products formed from matrices in are convergent. It was shown earlier in [Linear Algebra Appl., 130:65{82, 1990] that a set paracontracting with respect to a xed norm is an LCP-set. Here a converse statement is proved: If is a...