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CATALINA LIGHTING AGREES TO SELL WINDMERE SHARES

 CATALINA LIGHTING AGREES TO SELL WINDMERE SHARES
 MIAMI, Aug. 6 /PRNewswire/ -- Catalina Lighting, Inc. (AMEX: LTG)


today announced that it has entered into a binding letter of intent, subject to bank approvals, to sell 858,575 shares of Windmere Corporation common stock for a total consideration of approximately $4.9 million, or $5.75 per share (market price on Aug. 3, 1992). This represents Catalina's entire ownership position in Windmere, and the buyer of the stock is Windmere Corporation (NYSE: WND).
 Windmere will pay for part of the transaction via the delivery of 573,035 Catalina Lighting, Inc. common shares (which will be retired to the company's treasury), with the balance represented by a note.
 Concurrent with this transaction, Windmere has agreed to sell Catalina an additional 390,244 shares of Catalina Lighting, Inc. common stock at $5.125 per share (market price on Aug. 3, 1992). Catalina will pay for such shares with the issuance of a note. These shares will also be retired to the company's treasury.
 Following the completion of these transactions, Windmere will own 209,724 shares of Catalina common stock, or 4.3 percent of the total shares outstanding. The average number of Catalina shares outstanding will be reduced by 963,270 (or approximately 15 percent) after completion of this transaction.
 Catalina Lighting, Inc. is a premier supplier of high quality, affordably priced residential and office lighting products, which are imported from independent suppliers in the Far East and Canada. The company is heaquartered in Miami, with warehouse/distribution in Texas, California, Massachusetts and Montreal, Canada. Its shares are traded on the American Stock Exchange under the symbol "LTG."
 -0- 8/6/92
 /CONTACT: Dean Rappaport, chief financial officer of Catalina Lighting, 305-558-4777; or R. Jerry Falkner, CFA, Investor Relations Counsel, 800-377-9893, for Catalina Lighting/
 (LTG WND) CO: Catalina Lighting, Inc.; Windmere Corporation ST: Florida IN: HOU REA SU:


JB-JJ -- FL009 -- 7804 08/06/92 17:54 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
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