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COOPER DEVELOPMENT ANNOUNCES AGREEMENT TO SELL REVO

 MOUNTAIN VIEW, Calif., Nov. 3 /PRNewswire/ -- Cooper Development Co. (NASDAQ: COOL) announced today that it has agreed to sell its Revo sunglass business to Bausch & Lomb for $22,500,000 in cash plus the assumption of certain liabilities. The transaction is subject to various terms and conditions and is expected to close early next year.
 Parker G. Montgomery, chairman of the board and president, said, "We are pleased with the proposed sale of Revo to Bausch & Lomb and proud that Bausch & Lomb intends to maintain it as a separate business under its current management in California. Revo, founded in 1985, has concentrated its efforts in the top end of the premium performance sunglass market.
 "The proposed sale of Revo would be the second major profitable sale of an investment by Cooper Development Co. in the last two years. In 1991 we sold our interest in a joint venture with The Limited Inc. for $18.75 million cash. We are now in a position to concentrate all our resources on the continued growth and development of our skin care business, Cabot Laboratories Inc., and as it continues to grow and prosper, to consider additional investments in other healthcare and personal care businesses."
 Since disposing of its diagnostic and drug businesses in 1988, Cooper Development Co. has primarily invested in personal care products businesses.
 -0- 11/3/93
 /CONTACT: Carol R. Kaufman of Cooper Development, 415-969-9030/
 (COOL)


CO: Cooper Development; Bausch & Lomb ST: California IN: HOU SU: TNM

RB-TM -- SJ005 -- 3147 11/03/93 14:53 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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