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KINARK CORPORATION SETS RECORD DATE FOR CONSENT SOLICITATION

 TULSA, Okla., Jan. 22 /PRNewswire/ -- Kinark Corporation (AMEX: KIN) announced today that its board of directors has set a record date of Feb. 1, 1993, for a consent solicitation of its stockholders by Northbridge Holdings, Inc. Northbridge is seeking to expand and add its own nominees to the Kinark board. Kinark's board filed with the Securities and Exchange Commission (SEC) today its statement in opposition to Northbridge's solicitation.
 Northbridge's lawsuit to obtain the Kinark stockholder list was dismissed yesterday because Northbridge is not a stockholder of record of Kinark and therefore is not entitled to a stockholder list under Delaware law. Northbridge's Kinark stock is held in "street" name in a margin account.
 Kinark Corporation, with corporate headquarters in Tulsa, operates chemical facilities in Chicago and Montgomery, Ala., and supports industrial/commercial construction and metals corrosion protection with galvanizing plants in Denver, Louisville, Ky., Nashville, Tenn., St. Louis, Houston and Hurst, Texas.
 The following is a schedule showing the stock holdings of Kinark's directors:
 Amount of Percentage of
 Name of director Kinark stock outstanding stock
 Garry Brainin 436,000(A)(B) 11.0
 Paul R. Chastain 55,977(C) 1.5
 George B. Collins 236,000(A) 6.3
 John F. Guy 236,000(A) 6.3
 John H. Haley 1,000 --
 Ivan Himmel 5,800(D) 0.2
 Harry D. Jones 22,600(E) 0.6
 All directors as a
 group (7 persons) 521,377 13.0
 (A) -- Information based on Schedule 13D of Altair Corporation filed with the Securities and Exchange Commission. As a result of their positions with Altair and Chatham, Brainin, Collins and Guy may be deemed to be the beneficial owners of these shares.
 (B) -- Brainin holds stock options, exercisable within 60 days after Jan. 22, 1993, to acquire 200,000 shares.
 (D) -- Chastain holds stock options, exercisable within 60 days after Jan. 22, 1993, to acquire 45,000 shares.
 (D) -- Information based on Schedule 13D of Maritime Partners, Maritime Construction Co., and Epstein Financial Corporation filed with the SEC. According to their Schedule 13D, these entities share voting and investment power with respect to these shares. Himmel is president, chief executive officer and a director of Maritime Construction Co.
 (E) -- Jones holds stock options, exercisable within 60 days after Jan. 22, 1993, to acquire 5,000 shares.
 -0- 1/22/93
 /CONTACT: Carolyn A. Fredrich of Kinark Corporation, 918-494-0964/
 (KIN)


CO: Kinark Corporation ST: Oklahoma IN: OIL SU:

CK-WB -- NY037 -- 7927 01/22/93 12:56 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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