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KATY INDUSTRIES SPECIAL COMMITTEE RETAINS ADVISERS

 KATY INDUSTRIES SPECIAL COMMITTEE RETAINS ADVISERS
 ELGIN, Ill., Sept. 28 /PRNewswire/ -- Katy Industries, Inc.


(NYSE: KT) announced today that the special committee appointed by its board of directors to evaluate the previously announced proposal from members of the Carroll family (51 percent shareholders) to take the company private in a $22 per share cash merger has retained advisers. Goldman Sachs & Co. will be independent financial adviser to the committee and Jenkens & Gilchrist, P.C. will assist the committee in legal matters related to the proposal and other potential alternatives.
 The members of the special committee are directors J. Stuart Hunt, William F. Andrews, Felix Harvey and Lutz Raettig, with Mr. Hunt serving as chairman of the committee.
 Headquartered in Elgin, Katy Industries is a producer of industrial products, industrial components and consumer products. Katy common shares are listed on the New York Stock Exchange.
 -0- 9/28/92
 /CONTACT: William H. Murphy, president and chief operating officer of Katy Industries, 312-379-1121/
 (KT) CO: Katy Industries, Inc. ST: Illinois IN: SU:


PS -- NY031 -- 3917 09/28/92 11:04 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 28, 1992
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