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HORIZON ANNOUNCES OVERHEAD REDUCTIONS

 GOLDEN, Colo., May 12 /PRNewswire/ -- Horizon Resources Corp. (NASDAQ Small Cap: HRIZ) has announced the resignation of Charles E. Stott, Jr., from the board of directors and as the company's chief operating officer and president.
 In a move to reduce overhead expenses and preserve cash, Stott tendered his resignation from his employment with the company and from his position on the board of directors. The company's directors accepted Stott's resignation as of the close of business on Tuesday, May 11, 1993.
 As part of a program to preserve cash and reduce costs, other executive officers of the company have also agreed to indefinitely suspend a portion of their salaries. Other overhead costs are being monitored and are being reduced to minimum levels.
 On April 23, 1993, the company announced the shut down of its mining and refining operations of its wholly owned subsidiary, Horizon Potash Corp. located in Carlsbad, N.M. Concurrent with the shut down, the company reduced its labor force by approximately 340 hourly and salaried employees. The closure is attributed in large measure to very low priced potash exports by the Commonwealth of Independent States (CIS), republics of Russia, Belarus and Ukraine, to the company's traditional potash market in Latin America and in the United States.
 -0- 5/12/93
 /CONTACT: John E. Watson of Horizon Resources, 303-239-8701/
 (HRIZ)


CO: Horizon Resources Corp. ST: Colorado IN: MNG SU: PER

BB -- DV008 -- 7800 05/12/93 17:40 EDT
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Publication:PR Newswire
Date:May 12, 1993
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