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GROW GROUP MAKES ANNOUNCEMENT

 NEW YORK, Nov. 15 /PRNewswire/ -- Grow Group, Inc. (NYSE: GRO) announced today that a Detroit, Michigan Federal Judge ordered the drycleaning division of Grow Group's Automotive Division headquartered in Troy, Michigan to pay a $1,000,000 fine for an antitrust violation involving price fixing on perchloroethylane, a drycleaning solvent.
 Grow said it had previously established reserves to cover the fine and payment will not affect or future earnings.
 Grow further stated that the price fixing was undertaken by a single employee who admitted violating the company's written rules and business conduct policy. A spokesperson for Grow further stated that this isolated incident is not a reflection on the rest of Grow's employees. The drycleaning division's aggregate annual revenues are approximately 1/10 of one percent of the approximate $365 million total revenues reported by Grow.
 Grow Group is a leading producer of specialty chemical coatings and paints and household products. Grow operations include manufacturing facilities, sales offices and licensees throughout the world.
 -0- 11/15/93
 /CONTACT: Jennifer R. Wall of D.F. King & Co., Inc., 212-269-5550/
 (GRO)


CO: Grow Group, Inc. ST: New York IN: CHM SU:

TM-WB -- NY146 -- 4714 11/15/93 17:26 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:198
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