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WINDMERE CORPORATION ENTERS INTO AN AGREEMENT TO PURCHASE 858.575 SHARES OF ITS COMMON STOCK FROM CATALINA LIGHTING

 WINDMERE CORPORATION ENTERS INTO AN AGREEMENT TO PURCHASE 858.575
 SHARES OF ITS COMMON STOCK FROM CATALINA LIGHTING
 MIAMI LAKES, Fla., Aug. 6 /PRNewswire/ -- Windmere Corporation (NYSE: WND) announced today that it has entered into a binding letter of intent, subject to bank approvals, to purchase, at $5.75 per share, 858,575 shares of its common stock held by Catalina Lighting, Inc. This purchase will be satisfied in part by the delivery of 573,035 shares of Catalina common stock currently owned by Windmere Corporation, valued at $5.125 per share. As part of this transaction, Windmere Corporation has agreed to sell to Catalina 390,244 shares of Catalina common stock at $5.125 per share. Windmere Corporation will own 209,724 Catalina common shares, or 4.3 percent, of Catalina's outstanding common stock after this transaction.
 Windmere Corporation is a leading manufacturer and distributor of personal care products and other merchandise for the home and professional salon, including hair dryers, curling irons, kitchen appliances, and dental care appliances.
 -0- 8/6/92
 /CONTACT: John Heinlein, treasurer of Windmere, 305-362-2611, or Steven J. Barach of G.A. Kraut Company, 212-696-5600, for Windmere/
 (WND) CO: Windmere Corporation ST: Florida IN: HOU SU: TNM


TM-KW -- NY109 -- 7814 08/06/92 18:18 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
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