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KAISER RESOURCES INC. ENDS NEGOTIATIONS FOR MOTORSPORTS RACING COMPLEX

 RANCHO CUCAMONGA, Calif., Oct. 12 /PRNewswire/ -- Kaiser Resources Inc. (NASDAQ: KRSC) announced today that the Letter of Intent with Agajanian Prime Ventures (APV) for the development of a multiuse, motor sports racing complex on 360 acres of Kaiser's property near Fontana, Calif., has expired without the two parties completing a definitive lease agreement.
 According to Daniel N. Larson, president of Kaiser Resources Inc., the company and APV have not reached an agreement for the proposed facility as originally contemplated. While Kaiser d ?not rule out the possibility of future agreements to develop a motorsports complex on the site, Kaiser has determined that it will pursue all alternatives for development.
 "We're disappointed that Kaiser and APV have not completed the definitive agreement, but we're not going to rule anything out," Larson said. "During this process, we have been encouraged by the tremendous broad-based community support for a racing facility on our site," Larson explained. "We intend to pursue all alternative ideas including the possibility of the motorsports complex, whether with APV or other parties."
 Kaiser Resources Inc. owns 1,175 acres near Fontana, Calif., which is the former steel-making site of its predecessor company, Kaiser Steel Corp. The company has been pursuing special use development opportunities including the racing facility and a proposed regional materials recycling facility which was approved by the San Bernardino County Board of Supervisors on Oct. 5, 1993.
 Kaiser Resources is an emerging environmental resources company pursuing projects that address critical issues in Southern California, including solid waste management, water resources, and property redevelopment.
 -0- 10/12/93
 /CONTACT: Daniel N. Larson, president, or Pamela Catlett, director of Investor Relations of Kaiser, 909-944-4155/
 (KRSC)


CO: Kaiser Resources Inc. ST: California IN: SU:

EH-JB -- LA042 -- 1314 10/12/93 17:01 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
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