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KIMBALL SIGNS AGREEMENT TO PURCHASE METAL OFFICE FURNITURE MANUFACTURER

 KIMBALL SIGNS AGREEMENT TO PURCHASE
 METAL OFFICE FURNITURE MANUFACTURER
 JASPER, Ind., Dec. 18 /PRNewswire/ -- Kimball International, Inc. (NASDAQ: KBALB) announced today that Kimball has signed an agreement to purchase Harpers, a manufacturer of metal office furniture located in Torrance, Calif.
 The purchase agreement includes the acquisition by Kimball of Harpers' name, certain operational assets and the assumption of certain liabilities of Harpers.
 It is anticipated the purchase price would be financed out of Kimball's working capital and no external financing would be required. The agreement is subject to certain conditions being met by both Kimball and Harpers prior to the closing date.
 Harpers would continue operations as an independent subsidiary on the west coast. This investment is intended to improve Kimball's office furniture market share on the west coast.
 Harpers is a privately held corporation and in its latest fiscal year ended Feb. 28, 1991, recorded sales of $52.6 million.
 Kimball International, Inc. is a diversified manufacturer of office, healthcare, hospitality and home furniture, as well as contract cabinets, electronic assemblies and other products, with headquarters in Jasper, Ind. Kimball reported sales in its latest fiscal year ended June 30, 1991, of $555.3 million. Kimball's class B common stock is traded on the over-the-counter exchange.
 -0- 12/18/91
 /CONTACT: Ken Sendelweck or Gary Beckman, both of Kimball International, Inc., 812-482-1600/
 (KBALB) CO: Kimball International, Inc. ST: Indiana IN: SU: TNM


KK -- CL006 -- 3291 12/18/91 09:32 EST
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Publication:PR Newswire
Date:Dec 18, 1991
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