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AMERIWOOD, FORMER COUNSEL SETTLE CLAIMS

 GRAND RAPIDS, Mich., Dec. 23 /PRNewswire/ -- Ameriwood Industries International Corporation (NASDAQ: AWII) announced that it has reached an agreement in principle with its former outside general counsel and one of the firm's partners for the complete settlement of all Ameriwood claims against the law firm and its partner arising out of the firm's prior representation of the company.
 The agreement in principle, which is subject only to execution of formal settlement documents, calls for Ameriwood to receive a combination of cash and forgiveness by the law firm of legal fees it claimed it was owed by Ameriwood. The cash and forgiveness total approximately $1.5 million.
 Ameriwood, headquartered in Grand Rapids, is one of the country's largest producers of ready-to-assemble furniture and a leading supplier of stereo speaker cabinets to original equipment manufacturers of consumer electronics. The company has facilities in Grand Rapids and Dowagiac, Mich., and Tiffin, Ohio.
 -0- 12/23/92
 /CONTACT: Joseph J. Miglore, president, 616-530-6300, or Neil L. Diver, chairman, 818-449-2323, both of Ameriwood Industries/
 (AWII)


CO: Ameriwood Industries International Corporation ST: Michigan IN: SU:

KE -- DE026 -- 9727 12/23/92 17:13 EST
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Publication:PR Newswire
Date:Dec 23, 1992
Words:188
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