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EDISTO ANNOUNCES APPROVAL OF DISCLOSURE STATEMENT AND SETTING OF CONFIRMATION HEARING DATE BY BANKRUPTCY COURT

 DALLAS, April 2 /PRNewswire/ -- Edisto Resources Corporation (AMEX: EDS) announced today that the United States Bankruptcy Court for the District of Delaware has approved the Disclosure Statement of Edisto and its domestic oil and gas subsidiaries, NRM Energy Company, L.P., NRM Operating Company, L.P. and Edisto Exploration & Production Company. The Bankruptcy Court also affirmed a prior decision of the United States Trustee that no official committee of equity holders should be appointed in this proceeding. The Bankruptcy Court set May 27, 1993 as the date on which a hearing on the confirmation of Edisto's plan of reorganization will be held.
 Edisto intends to solicit votes promptly from holders of claims and interests entitled to vote on the approval of its plan of reorganization which is described in the Disclosure Statement. The principal elements of Edisto's proposed plan of reorganization are as follows:
 (i) Edisto will exchange shares of its common stock representing, in the aggregate, 90 percent of the shares to be outstanding upon confirmation of the plan for all principal and accrued interest claims of holders of the 13 7/8 percent notes due 1999 of NRM Energy (approximately $113 million); and
 (ii) Current holders of Edisto's common stock will retain their shares (representing 10 percent of the shares to be outstanding upon confirmation of the plan), and will additionally receive warrants entitling them to acquire shares of common stock that, if fully exercised, would result in existing holders owning 22 percent of the outstanding shares of common stock. The warrants will have a three-year term and an exercise price of approximately $0.49 per share (pre-split). Edisto expects to effect a 1-for-20 reverse split of its common stock in connection with the restructuring.
 The plan provides that all creditors of Edisto, other than Edisto's bank lender (which will be paid pursuant to the terms of a renegotiated credit agreement) and the holders of NRM Energy's 13 7/8 percent notes, will be unimpaired, paid in the ordinary course of business or otherwise have their claims satisfied in full.
 Edisto Resources Corporation's consolidated activities include the production of oil and gas, the exploration and development of oil and gas reserves and natural gas marketing and transportation.
 -0- 4/2/93
 /CONTACT: Gary L. Pittman, vice president - financial services, of Edisto Resources Corporation, 214-880-0243/
 (EDS)


CO: Edisto Resources Corporation ST: Texas IN: OIL SU:

LR -- NY043 -- 2537 04/02/93 13:07 EST
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Date:Apr 2, 1993
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