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EDISTO RESOURCES ANNOUNCES FILING OF FINAL VOTING RESULTS ON PLAN OF REORGANIZATION

 DALLAS, May 20 /PRNewswire/ -- Edisto Resources Corporation (AMEX: EDS) today announced that it has filed a final tabulation of ballots with the Delaware Bankruptcy Court indicating that its previously announced plan of reorganization received favorable votes from each class of Edisto's debt and equity securities entitled to vote on the plan. Edisto reported that the plan received affirmative votes representing approximately 73 percent of the shares Common Stock and approximately 97 percent of the Senior Notes (in both number and amount) voting on the plan.
 As previously announced, the Delaware Bankruptcy Court hearing on confirmation of the plan or reorganization has been set for May 27, 1993. Edisto advised that no assurance can be given that its plan of reorganization will be confirmed on that date.
 The principal elements of Edisto's proposed plan of reorganization are as follows:
 -- 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
 -- 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.
 Edisto Resources Corporation's consolidated activities include the production, exploration and development of oil and gas reserves and natural gas marketing and transportation operations. Edisto and its domestic oil and gas exploration and production subsidiaries (but not its gas transmission and marketing or international subsidiaries) filed petitions for relief under chapter 11 of the Federal Bankruptcy Code on Oct. 26, 1992.
 -0- 5/20/93
 /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:

WB -- NY034 -- 0675 05/20/93 10:25 EDT
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Publication:PR Newswire
Date:May 20, 1993
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