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PEARSON TO FOCUS FULL-TIME ON CLAYTON, DUBILIER & RICE; LEAVES HARVARD BUSINESS SCHOOL

 NEW YORK, April 6 /PRNewswire/ -- Clayton, Dubilier & Rice (CD&R) announced today that Andrall E. Pearson has taken early retirement from the Harvard Business School in order to devote his full time and attention to the private investment firm with which he first became affiliated in September 1991.
 Mr. Pearson joined the Harvard faculty in 1985 from PepsiCo, Inc., where he had been president and chief operating officer. As the Class of 1958 Professor of Business Administration, he has taught and conducted research on competitive strategy and the role of the general manager.
 "As much as I have enjoyed teaching and being around talented students, I am excited about becoming a full-time player at Clayton, Dubilier & Rice," said Mr. Pearson. "And I am gratified that the partners welcome this change."
 "Andy has been important to our firm, first as an independent director of several of the companies in which we have investments, and for the past 18 months, as an active member," said Joseph L. Rice, III, president of CD&R. "He is held in high regard here for his operating skills and experience, and we are pleased by his decision to focus his full energies on our firm."
 Mr. Pearson's career reflects a rich mix of experience as an operating executive, consultant and teacher. Following graduation from the University of Southern California and Harvard Business School, he worked at Standard Brands, Inc. in sales and marketing. From 1954-70, he was with McKinsey & Company, Inc., where he was senior director in New York, overseeing management and marketing studies for a variety of consumer companies.
 In 1970 he joined PepsiCo as executive vice president, Operations and was elected president the following year. As the top operating officer he supervised the company's 15 operating divisions. He is a director of PepsiCo, Inc., as well as serving on the boards of Primerica Corporation, the May Department stores, and Lexmark International Inc., the information products company that Clayton, Dubilier & Rice acquired from IBM for $1.5 billion in 1991.
 Clayton, Dubilier & Rice manages a pool of equity capital in excess of $1 billion. Since its inception in 1978, the firm has invested in 17 businesses, including the Van Kampen Merritt Companies Inc., a $395 million transaction concluded with Xerox Financial Services in February, and the $1.5 billion management buyout of Lexmark International, Inc. (formerly International Business Machine Corporation's Information Products Division), in which IBM Corporation retains a 10 percent equity interest.
 -0- 4/6/93
 /CONTACT: Eileen Halsch or John Higgins of Broadgate Consultants, Inc., 212-229-2222, for Clayton, Dubilier & Rice/


CO: Clayton, Dubilier & Rice ST: New York IN: FIN SU: PER

AH-TM -- NY002 -- 3338 04/06/93 09:02 EDT
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Date:Apr 6, 1993
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