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/FIRST ADD -- NY003 -- CLAYTON, DUBILIER & RICE/

 CLAYTON, DUBILIER & RICE, INC. BACKGROUNDER
 Clayton, Dubilier & Rice, Inc. is a private investment firm with a


unique approach to buying and building carefully selected businesses. The firm's philosophy is to work in partnership with management to develop long-term growth strategies and to encourage entrepreneurial approaches for running businesses.
 Since its formation in 1978, Clayton, Dubilier & Rice's trademark has been to invest in divisions that a large company no longer considers to be part of its strategic business, and which are not achieving their full potential. In these situations, Clayton, Dubilier & Rice often sees an opportunity to create value over the long-term by investing in the business, supporting management, and improving operations.
 From 1978-91, Clayton, Dubilier & Rice acquired 17 businesses with combined sales of approximately $10 billion. The seven most recent acquisitions are described briefly below:
 Van Kampen Merritt (Chicago): Is a leading investment manager for individuals and institutions. Formerly part of Xerox Corporation's financial services area, VKM sponsors, markets and provides investment products distributed through an independent retail network. It also provides asset management and research services to institutions. The company was acquired in 1992 for approximately $360 million.
 Lexmark International, Inc. (Greenwich, Conn.): Lexmark, formerly The IBM Corporation's Information Products Division, is a world leader in the development, manufacturing, distribution and support of computer workstation printers, typewriters, keyboards and related supplies. The company was acquired in 1991 for approximately $1.6 billion.
 A.P.S., Inc. (Houston): Automotive after-market parts distributor, serving a national network of 1,400 independently owned jobbers and 110 company-owned stores through its 29 distribution centers. Acquired from Wickes Companies, Inc., in 1989 for approximately $200 million.
 The Kendall Company (Boston): Manufactures and supplies disposable medical products for hospitals, alternate site healthcare facilities and the home healthcare market. Acquired from Colgate-Palmolive in 1988 for approximately $960 million.
 The Uniroyal Goodrich Tire Company (Akron, Ohio): Acquired as part of $950 million restructuring of the company that was formed in 1986 by merging the automobile and light truck tire subsidiaries of BF Goodrich and Uniroyal, Inc.
 Homeland Stores, Inc. (Oklahoma City, Okla.): Operates 106 modern supermarkets in Oklahoma, Texas, and Kansas as well as food processing plants and a central distribution center. Acquired from Safeway in 1987 for approximately $165 million.
 BW/IP International, Inc. (Long Beach, Calif.): Manufactures advanced technology fluid transfer and control equipment and systems. Acquired from Borg-Warner Corporation in 1987 for approximately $200 million.
 Nu-Kote International, Inc. (Rochester, N.Y.): Manufacturer and marketer of business forms and office supplies, including typewriter and printer ribbons and carbon paper. Acquired from Unisys Corporation in 1987 for approximately $50 million.
 Principals of the firm have held senior management positions with major public and private companies representing a broad range of industries products and technologies. The firm combines general management experience and financial skills to identify, analyze, structure and monitor successful investments.
 -0- 9/15/93 AA NY003
 /FIRST AND FINAL ADD/
 /PRNewswire -- Sept. 15/


CO: Clayton, Dubilier & Rice, Inc. ST: Indiana IN: AUT SU:

WB-PS -- NY003A -- 2136 09/15/93 10:10 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
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