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KMC ENTERPRISES ANNOUNCES SALE OF SUBSIDIARY, RESIGNATION OF PRESIDENT

 KMC ENTERPRISES ANNOUNCES SALE OF SUBSIDIARY,
 RESIGNATION OF PRESIDENT
 SAN JOSE, Calif., May 15 /PRNewswire/ -- KMC Enterprises Inc. (NASDAQ: KMCI) today announced the sale of its subsidiary, KGE Inc. to Kenneth W. Keegan, the company's president and chief executive officer. KGE Inc. operates Great Expectations(R) video dating franchise centres in the San Francisco Bay Area. This sale represents another step in KMC's efforts to simplify its corporate structure. The company has previously announced a planned merger with Worth Corp. (NASDAQ: WRTH), KMC's principal stockholder.
 The company also announced the resignation of its president, Kenneth W. Keegan, who will devote all of his efforts to KGE and its Great Expectations franchise business.
 KMC Enterprises Inc., a 68 percent owned subsidiary of Worth Corp., owns 62 percent of the outstanding common stock of Krause's Sofa Factory. Krause's, based in Brea, Calif., is a large manufacturer and retailer of made-to-order upholstered furniture. Krause's presently sells its products through 68 retail showrooms in California and six other Western states.
 -0- 5/15/92
 /CONTACT: Robert G. Sharpe of KMC Enterprises Inc., 408-453-1800/
 (KMCI WRTH) CO: KMC Enterprises; Worth Corp. ST: California IN: SU: PER


RM -- SJ001 -- 1018 05/15/92 18:13 EDT
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Publication:PR Newswire
Date:May 15, 1992
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