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ADIENCE REORGANIZATION PLAN CONFIRMED BY COURT; COMPANY CITES CONFIDENCE IN EMPLOYEES, BUSINESS

 PITTSBURGH, May 6 /PRNewswire/ -- Adience, Inc. announced today that the U.S. Bankruptcy Court for the Western District of Pennsylvania (Judge Judith K. Fitzgerald) has confirmed the prepackaged plan of reorganization submitted by the company in February.
 According to the company, the confirmation is the court's approval of a plan which quickly and efficiently restructures the company's finances. The use of this prepackaged reorganization enabled restructuring within a short time period (71 days) and at reasonable administrative and legal costs.
 Adience Chairman Fletcher L. Byrom says the reorganization is a major step forward for the company. "The court's ruling is evidence that our major investors' confidence in the future strength of the company is justified. Now we can concentrate our efforts on providing growth opportunities for employees to better serve customers."
 Byrom said that the timing of the announcement coincides with internal efforts to focus employees on areas of the business with the greatest promise, and external efforts to build quality relationships with customers.
 "The past several months have been particularly meaningful for our employees, and they have proven the value of their efforts," Byrom noted. "There's a hard spirit in the organization. Our people are responsive and the dialogue with customers is encouraging. We're convinced that Adience has the people, technical support and ability to maintain leadership in the markets and industries which we serve."
 The recent court ruling confirms the plan to incorporate the previously disclosed agreement between Adience and the informal committee of the holders of $66 million of Adience's 15 percent senior subordinated reset notes. The holders of these notes will exchange them for $48 million of new 11 percent notes, plus common stock representing 55 percent of the equity of Adience. Information Display Technology, Inc. (AMEX: IDT), an 80 percent owned subsidiary of Adience, will not be a guarantor of the new notes to be issued.
 Shareholders and note holders will receive information and instructions relating to the exchange within the next several weeks. The transaction is anticipated to be consummated in June 1993, according to Adience.
 -0- 5/6/93
 /CONTACT: Robert J. O'Gara for Adience, 412-561-0462/
 (IDT)


CO: Adience, Inc.; Information Display Technology, Inc. ST: Pennsylvania IN: SU:

DM-CD -- PG010 -- 5431 05/06/93 12:11 EDT
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Publication:PR Newswire
Date:May 6, 1993
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