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AMERICAN DREW AND NATIONSCREDIT OFFER NEW 'CUSTOM HOME THEATRE' DEALER FINANCING PROGRAM

 HIGH POINT, N.C., April 19 /PRNewswire/ -- American Drew, a subsidiary company of LADD Furniture, Inc. (NASDAQ-NMS: LADF) began offering a comprehensive new financing program for its "Custom Home Theatre" furniture dealers during the International Home Furnishings Market which began last week in High Point, N.C. Provided through NationsCredit Corporation, the new financing package offers a menu of credit services, including both inventory financing for furniture retailers and consumer financing for their customers.
 The dealer inventory financing program covers both initial stocking orders and sold orders and provides repayment terms of up to six months without finance charges, allowing dealers to repay their initial order out of cash flow from sales, rather than from borrowed funds or working capital. The inventory financing program also offers credit lines that exceed the normal open account terms offered by most residential furniture manufacturers.
 The new consumer financing service provides customized retail financing programs tailored to the specific needs of each individual furniture retailer. Advantages include optimum credit limits and fast response times for both retailers and consumers, made possible by the state-of-the-art computer hardware and software employed by NationsCredit's centralized processing center.
 Dave Carpenter, vice president-corporate credit services for LADD, noted that his company has had a relationship with NationsCredit for over five years through its Clayton Marcus division, and said, "This new credit program will expand and enhance LADD's existing financing services and provide participating American Drew Custom Home Theatre dealers with a distinct service advantage over their competitors." In designing the financing program Carpenter worked with American Drew's management and with Steve Kendall and Kevin Joseph, vice presidents with NationsCredit -- a subsidiary of NationsBank (NYSE: NB) which acquired most of the assets of Chrysler First Inc. in February 1993. NationsBank plans to use the national network of NationsCredit offices to geographically expand its business base.
 Headquartered in High Point, N.C., LADD is the fourth largest residential furniture manufacturer in the United States, as well as a leading supplier of contract furniture to the guest room, government and health care markets domestically and abroad. LADD sells its broad range of wood, upholstered and metal furniture products under the major brand names American Drew, American of Martinsville, Barclay, Brown Jordan, Clayton Marcus, Daystrom, Design Horizons, Fournier, Lea Industries and Pennsylvania House, and markets these products worldwide through LADD International. LADD also owns and operates two support companies, Lea Lumber & Plywood and LADD Transportation. LADD's stock is traded on the over-the-counter National Market System under the NASDAQ symbol LADF.
 -0- 4/19/93
 /CONTACT: John J. Ong, LADD Furniture, Inc., 919-888-6353/
 (LADF NB)


CO: American Drew; NationsCredit Corporation; LADD Furniture, Inc. ST: North Carolina IN: REA SU: PDT

JM -- CH002 -- 7133 04/19/93 07:48 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
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