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CASCADE INTERNATIONAL UNABLE TO LOCATE CHAIRMAN AND CEO

 CASCADE INTERNATIONAL UNABLE TO LOCATE CHAIRMAN AND CEO
 BOCA RATON, Fla., Nov. 20 /PRNewswire/ -- Cascade International,


Inc. (NASDAQ: KOSM) announced today that the company has been unable to locate Victor G. Incendy, formerly chairman of the board, chief executive officer and principal shareholder, for the past two days. At an emergency meeting of the board, John T. Sirmans was elected president. Aaron Karp, an attorney for the company, was elected as a director to replace Victor G. Incendy and to act as temporary chairman of the board. Sirmans said that quotations of the shares will not be disseminated over the NASDAQ stock market pending a review of the company's qualifications for continued trading in NASDAQ. A review of transactions in the company's shares and its financial statements will be conducted by Coopers & Lybrand, an independent auditing and accounting firm selected by the board with the company's legal counsel. At present, it appears that the financial statements of the company may not be accurate.
 Cascade International, Inc., operating through wholly owned subsidiaries under the names J.B.'s Boutiques; Fran's Fashions and Jean Cosmetics is a diversified retailer of quality cosmetics, designer fragrances, skin care products and women's fashion apparel.
 -0- 11/20/91
 /CONTACT: Kerrie A. Kane of Cascade International, Inc., 407-338-8278/
 (KOSM) CO: Cascade International, Inc. ST: Florida IN: REA SU: PER


AW-MR -- FL008 -- 5381 11/20/91 11:27 EST
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Publication:PR Newswire
Date:Nov 20, 1991
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