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KENNEDY-WILSON INC. LAUNCHES PERSONAL PROPERTY DIVISION WITH MAJOR BUSINESS AIRCRAFT AUCTION

 SANTA MONICA, Calif., Nov. 16 ~PRNewswire~ -- Kennedy-Wilson In c. (KW) is one of the largest sellers of real estate -- by auction -- in the world, having grossed in excess of $2.2 billion in auction sales to date. Associates of KW have also achieved success in personal property auctions, remarketing everything from Tiffany windows to the interiors of Lloyds of London. In 1990 several world record sales prices for warbirds were established in an auction conducted by the KW team in Santa Monica.
 After going public in August of 1992, the company established a Personal Property Division and immediately scheduled a Business Aircraft Auction in partnership with the Fort Dodge, Iowa, publishers of "Business Air Today" and "Aviators Hot Line." The event will take place April 23 and 24, 1993, at Alliance Airport, the mega-aviation complex developed by the city of Fort Worth, Texas, and The Perot Group.
 Together Kennedy-Wilson and Heartland Communications will deliver a powerful combination of aviation industry knowledge, marketing skills and aircraft auction experience to this extraordinary event.
 In order to obtain maximum sales prices for aircraft owners, a realistic minimum bid, to be agreed upon between sellers and Kennedy- Wilson, will be determined through a Minimum Pricing Evaluation (MPE) designed by J.R. Laughead Inc., aircraft evaluators from Houston. The formula, based on owners' specs and technical information gathered from worldwide data bases and merged into a sophisticated computer program, will realistically position the client's aircraft in today's auction market.
 Kennedy-Wilson will prepare a comprehensive, 31-page Due Diligence Package on each auction aircraft for every prospective buyer. It will include the MPE report, photos, copies of log reports when available, auction deadlines, locations, a description of the aircraft auction process and bios of auction principals.
 Consignments are presently being solicited for corporate jets, turbojets and turboprops. Aircraft owners should call 310-314-8500 for auction information and a sample Due Diligence Package.
 Information seminars will be held in Mexico, South America and Europe for potential buyers, who will interface with Kennedy-Wilson representatives in order to learn more about the aircraft being offered and the auction process.
 Kennedy-Wilson will cooperate with aircraft brokers who have exclusive listings.
 -0- 11~16~92
 ~CONTACT: Diana Markes of Kennedy-Wilson, 310-314-8400~


CO: Kennedy-Wilson Inc. ST: California IN: AIR SU:

JL-LS -- LA010 -- 1246 11~16~92 11:45 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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