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CATALINA LIGHTING SELLS WINDMERE SHARES

 CATALINA LIGHTING SELLS WINDMERE SHARES
 MIAMI, Oct. 23 /PRNewswire/ -- Catalina Lighting, Inc. (AMEX: LTG)


today announced that it completed the sale of 858,575 shares of Windmere Corporation common stock. This represents Catalina's entire ownership position in Windmere, and the buyer of the stock is Windmere Corporation.
 Windmere paid for part of the transaction via the delivery of 473,035 Catalina Lighting, Inc., common shares (which will be retired to the company's treasury), with the balance represented by a $2 million note.
 Concurrent with this transaction, Windmere sold Catalina an additional 390,244 shares of Catalina Lighting, Inc. common stock. Catalina paid for such shares with the issuance of a $2 million note. These shares will also be retired to the company's treasury.
 Windmere now owns 309,724 shares of Catalina common stock, or 6.2 percent of the total shares outstanding. The average number of Catalina shares outstanding will be reduced by 863,270 (or approximately 16 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 headquartered 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- 10/23/92
 /CONTACT: Dean Rappaport, chief financial officer of Catalina Lighting, Inc., 305-558-4777, or R. Jerry Falkner, CFA, Investor Relations Counsel, 800-377-9893, for Catalina Lighting/
 (LTG) CO: Catalina Lighting, Inc. ST: Florida IN: SU:


SS-JB -- FL008 -- 4261 10/23/92 15:02 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
Words:266
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