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INTERMARK FILES PRELIMINARY PROSPECTUS FOR BONDHOLDER CONSENT TO CONTEMPLATED PREPACKAGED PLAN OF REORGANIZATION

 INTERMARK FILES PRELIMINARY PROSPECTUS FOR BONDHOLDER CONSENT
 TO CONTEMPLATED PREPACKAGED PLAN OF REORGANIZATION
 LA JOLLA, Calif., March 31 /PRNewswire/ -- Intermark Inc. (AMEX: IMI) today filed a registration statement with the Securities and Exchange Commission (SEC). When approved by the SEC, this will allow the company to solicit bondholder and stockholder consents to a "prepackaged" plan of reorganization. The reorganization would include Intermark and its wholly owned subsidiary Triton Group Ltd. The plan of reorganization will be filed, if Intermark elects to do so, only after the requisite consents have been obtained.
 Intermark stated that the plan of reorganization, to be implemented pursuant to Chapter 11 of the U.S. Bankruptcy Code, will not include any of Intermark's operating partner companies. All of the current operations, assets and business (including stand-alone lines of credit) of the operating partner companies will be unaffected by the plan of reorganization. Intermark, Triton and each of the operating partner companies will continue to meet trade obligations in the normal course.
 When the registration statement is declared effective, Intermark will solicit acceptances of the plan from holders of Intermark's 11 7/8 percent Senior Subordinated Debentures, 13.20 percent Senior Subordinated Debentures and 7 3/8 percent Convertible Subordinated Debentures, and its Common and Preferred Stockholders. In addition, the solicitation will be made to holders of the 14 3/8 percent Subordinated Notes and 14 5/8 percent Subordinated Debentures of Triton, which became a wholly owned subsidiary of Intermark in 1990.
 If the requisite consents are obtained, Intermark expects to file the prepackaged plan of reorganization with the bankruptcy court at the end of June 1992. If the consents are not obtained, the prepackaged plan will not be filed.
 The prepackaged plan, if approved by the bankruptcy court, will result in the transfer of a substantial portion of Intermark's assets and companies to a liquidating trust for the benefit of the Intermark and Triton debtholders. Intermark will determine which assets and companies will be transferred. In return, the entire amount of outstanding public debt of both Intermark and Triton will be cancelled.
 Commenting on the filing, John C. Stiska, Intermark's president, said, "For a considerable time we have referred to Intermark's overleveraged position and debt service pressures. Consummation of the proposed plan would allow us to emerge as a viable enterprise, relatively debt-free, with sufficient resources and working capital." Stiska added, "The prepackaged plan will not include our partner companies. It has no effect on them since they each have their own working capital sources and credit facilities, and do not rely on Intermark for ongoing financial support."
 Intermark expects that the registration statement will be declared effective in May, and that solicitation of the plan would commence immediately thereafter. Smith Barney, Harris Upham & Co. Inc. is assisting Intermark as financial advisor.
 Intermark is an operating/holding company whose business is to acquire a controlling interest in, operate through and add value to well-established, successful, mid-sized American growth companies in broadly diverse industries.
 -0- 3/31/92
 /CONTACT: John C. Stiska, president, or Michael M. Earley, senior VP and CFO, or Mitchell R. Woodbury, senior VP and general counsel, 619-456-1000, all of Intermark/
 (IMI) CO: Intermark Inc. ST: California IN: FIN SU:


AL -- SD006 -- 3573 03/31/92 16:29 EST
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Publication:PR Newswire
Date:Mar 31, 1992
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