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CONSTON CORPORATION ISSUES ANNOUNCEMENT

 CONSTON CORPORATION ISSUES ANNOUNCEMENT
 PHILADELPHIA, Dec. 16 /PRNewswire/ -- Conston Corporation


(AMEX: KCS) said it has received inquiries regarding the extent to which it will be affected by the commencement today of voluntary Chapter 11 bankruptcy proceedings by Cascade International, Inc.
 Cascade is Conston's major shareholder and creditor. Conston had previously reported receipt of information from Cascade that Cascade was unable to fund the line of credit that Cascade had agreed to provide to Conston in the amount of $6 million, beyond the amount of approximately $2.7 million which Cascade had advanced already.
 Ira Quint, president and chief executive officer of Conston, stated: "We do not foresee that the Cascade bankruptcy proceeding, as such, will have any material effect on our company. At the moment, our company is a substantial debtor of Cascade. Cascade had maintained leased cosmetic departments in some of our stores, but the operations of these departments had been substantially terminated some weeks ago. Apart from Cascade's continuing obligation to pay rent for the space of the cosmetic departments, which it is no longer occupying, the two companies have no significant continuing business relationships. We are continuing our efforts to seek an alternative source of financing which, if successful, probably will involve a combination of debt and equity components."
 Conston Corporation is a specialty retailer of women's ready-to-wear clothing, operating its large size divisions (225 stores) under the names 14 Plus and 16 Plus.
 /delval/
 -0- 12/16/91
 /CONTACT: Ira Quint, president and CEO of Conston, 215-492-9700/
 (KCS) CO: Conston Corporation; Cascade International, Inc. ST: Pennsylvania IN: REA SU: BCY


KA-JS -- PH002 -- 2427 12/16/91 10:23 EST
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Publication:PR Newswire
Date:Dec 16, 1991
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