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AMRE ANNOUNCES SETTLEMENT WITH THE SECURITIES AND EXCHANGE COMMISSION

   AMRE ANNOUNCES SETTLEMENT WITH THE SECURITIES AND EXCHANGE COMMISSION
    DALLAS, March 3 /PRNewswire/ -- AMRE, Inc. (NYSE: AMM), a Dallas- based consumer marketer of home improvement products, announced that an administrative proceeding brought against it by the Securities and Exchange Commission has been settled by the entry of a cease and desist order issued by the SEC prohibiting AMRE from violating certain provisions of the Securities Exchange Act of 1934, as amended, and certain rules, including Rule 10b-5, promulgated thereunder.  In June of 1990, the SEC issued an order directing a private investigation of AMRE's accounting policies and revenue recognition practices.  In August of 1991 AMRE announced its willingness to consent to the entry of a permanent injunction by a federal court enjoining the company from violating certain provisions of the federal securities laws.  However, the SEC subsequently advised the company that it would initiate an administrative proceeding rather than a federal court injunctive action.
    AMRE cooperated fully with the SEC in its investigation and agreed to settle the administrative proceeding to avoid the cost of litigation. By consenting to the entry of the cease and desist order, AMRE neither admits nor denies the allegations against the company set forth in the SEC's order initiating the administrative proceedings.
    -0-           3/3/92
    /CONTACT:  Michael Keane of AMRE, 214-819-7000/
    (AMM) CO:  AMRE, Inc. ST:  Texas IN: SU: SH -- NY065 -- 4566 03/03/92 15:17 EST
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Publication:PR Newswire
Date:Mar 3, 1992
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