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RSI HOLDINGS, INC. ANNOUNCES INTENTIONS TO DISCONTINUE ITS OUTDOOR POWER EQUIPMENT BUSINESS

 RSI HOLDINGS, INC. ANNOUNCES INTENTIONS
 TO DISCONTINUE ITS OUTDOOR POWER EQUIPMENT BUSINESS
 GREENVILLE, S.C., June 1 /PRNewswire/ -- RSI Holdings, Inc. (NASDAQ: RSIH), announced today that it intends to discontinue its outdoor power equipment business by reason of the decision of this business' primary supplier (Snapper Power Equipment) to terminate its distributor relationship with the Porter Brothers division of the Company. The termination by Snapper will be effective as soon as the transition to another distributor can be effected.
 Sales by the Company to its dealers of outdoor power equipment were $22.0 million for fiscal 1989, $21.5 million for fiscal 1990, $19.5 million for fiscal 1991 and $7.3 million for the six months ended Feb. 29, 1992. These sales represented approximately 65 percent, 65 percent, 67 percent and 70 percent of the total sales of the Porter Brothers division and approximately 40 percent, 41 percent, 43 percent and 43 percent of the total sales of the Company for the fiscal years 1989, 1990 and 1991 and for the first six months of fiscal 1992, respectively.
 The Company believes that the termination is likely to adversely affect the Company's ability to satisfy its cash flow requirements, but has not completed the analyses to determine the full impact.
 In response to this termination, the Company intends to downsize its operations and concentrate on its remaining business of selling turf care equipment and supplies.
 -0- 6/1/92
 /CONTACT: C.C. Guy or Joe F. Ogburn, RSI Holdings, Inc., 704-482-3424/
 (RSIH) CO: RSI Holdings, Inc. ST: South Carolina IN: SU:


JZ -- CH005 -- 5941 06/01/92 17:39 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
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