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AMERICAN OF MARTINSVILLE PRESIDENT TO ACCOMPANY PRESIDENT BUSH ON JAPAN TRIP

 AMERICAN OF MARTINSVILLE PRESIDENT TO ACCOMPANY
 PRESIDENT BUSH ON JAPAN TRIP
 MARTINSVILLE, Va., Dec. 16 /PRNewswire/ -- American of Martinsville president Robert J. Maricich will be among a number of other U.S. business executives accompanying President Bush and U.S. Commerce Secretary Robert Mosbacher on the President's upcoming trip to Asia and the Pacific. In announcing the composition of the trade delegation Friday, the White House said: "Exports play a vital role in creating jobs for Americans and strengthening our economy ... this mission lays the foundation for ... increasing opportunities for American companies to export their products and services to countries in Asia and the Pacific."
 In addition to participating in scheduled events with the President, this delegation will meet with the Prime Minister and key Japanese government and private sector officials to discuss trade and investment opportunities.
 "I'm delighted and honored to be a part of this high level trade mission," Maricich said. He noted that since 1986, American of Martinsville's management has successfully focused attention on developing the firm's foreign hospitality furniture business. In 1990, American of Martinsville was selected to be one of twenty U.S. corporations to participate in the U.S. Department of Commerce Trade Initiative, The Japan Corporate Program (JCP). Today's announcement was a direct result of American of Martinsville's aggressiveness and accomplishments made during the first ten months of the JCP.
 Within the framework of the Commerce Department's Japan Corporate Program, American of Martinsville's objective has been to strengthen its market identity in Japan as a supplier of high-quality hospitality furniture for hotels, motels, and resorts in middle and upper-end vacation facilities, as well as business/commercial travel facilities.
 Since the beginning of 1991, American of Martinsville's management has actively and enthusiastically participated in every phase of the JCP. Maricich attributes his firm's success into Japan's hospitality furniture industry directly to this participation. In his August visit to the Department of Commerce, he stated that it would have taken many years to gain access to the same Japanese industry principals with whom he now communicates regularly. "In fact, the JCP has forced us to accelerate our planning and review operations in light of potential Japanese orders far sooner than we originally contemplated," Maricich said.
 During their exhibit in the U.S. pavilion at the Tokyo International Furniture Fair in November 1991, Maricich announced that his company had developed distribution agreements with two major Japanese firms: Kosuga & Co., Ltd., and Shibusawa Interior, a division of Shibusawa Development Co., Ltd. These new distributors will sell and service all American of Martinsville standard in-line products and custom designs to hotel, health care, and university markets in Japan.
 American of Martinsville is a subsidiary company of LADD Furniture, Inc. (NASDAQ-NMS: LADF). LADD, headquartered in High Point, N.C., is one of the largest U.S. producers of residential and contract furniture. Its stock is traded on the over-the-counter National Market System under the NASDAQ symbol LADF.
 -0- 12/16/91
 /CONTACT: Robert J. Maricich, President, American of Martinsville, 703-638-2379/
 (LADF) CO: American of Martinsville; LADD Furniture, Inc. ST: Virginia IN: REA SU: PER


CM -- CH008 -- 2674 12/16/91 16:51 EST
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Date:Dec 16, 1991
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