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ILM ANNOUNCES INITIATION OF PRELIMINARY TALKS WITH JENNIFER CONVERTIBLES WITH GOAL OF ENTERING INTO A LICENSING AGREEMENT

 ILM ANNOUNCES INITIATION OF PRELIMINARY TALKS WITH JENNIFER
 CONVERTIBLES WITH GOAL OF ENTERING INTO A LICENSING AGREEMENT
 UPPER SADDLE RIVER, N.J., Sept. 3 /PRNewswire/ -- The Institute for Laboratory Medicine, Inc. (NASDAQ: LABS) announced today that it is engaged in preliminary talks with Jennifer Convertibles, Inc. and related third parties, to explore establishing a license agreement that would enable ILM to open and operate retail convertible sofabed stores in North America under the Jennifer Convertibles tradename.
 Jennifer Convertible is one of the country's largest specialty retailers of convertible sofabeds and has been aggressively expanding its store base through licensing agreements.
 The discussions are in the preliminary stages and there can be no assurances that a definitive agreement can be reached. As previously announced, ILM has been actively examining acquisition opportunities and is continuing to explore other situations.
 -0- 9/3/92
 /CONTACT: Russ Fein of Institute for Laboratory Medicine, Inc., 201-934-4200/
 (LABS) CO: Institute for Laboratory Medicine, Inc.; Jennifer Convertibles,
 Inc. ST: New Jersey IN: REA SU: LIC


SM-TS -- NY050 -- 6368 09/03/92 11:27 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
Words:177
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