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KMC ENTERPRISES BOARD AGREES TO ACCEPT OFFER FROM WORTH

 KMC ENTERPRISES BOARD AGREES TO ACCEPT OFFER FROM WORTH
 SAN JOSE, Calif., Jan. 16 /PRNewswire/ -- KMC Enterprises Inc. (NASDAQ: KMCI) announced today that its board of directors has agreed in principle to accept an offer from Worth Corp. (NASDAQ: WRTH), its majority stockholder, to be acquired through a merger with Worth Corp. The proposed transaction is scheduled for completion in June 1992, following normal regulatory approvals and the satisfaction of certain conditions, including stockholder approval.
 Minority stockholders of KMC Enterprises Inc. would receive one and one-tenth (1.1) shares of Worth Corp. common stock in exchange for each share of KMC Enterprises Inc. common stock held by them on the effective date of the merger. The exchange is expected to be non- taxable to the KMC stockholders.
 KMC Enterprises Inc. owns 62 percent of the outstanding common stock of Krause's Sofa Factory, a Brea, California-based manufacturer and retailer of made-to-order upholstered furniture. The company also operates two Great Expectations(R) video dating service franchise centres located in the cities of Sausalito and Mountain View, Calif.
 -0- 1/16/92
 /CONTACT: Robert G. Sharpe of KMC Enterprises, 408-436-7467/
 (KMCI WRTH) CO: KMC Enterprises Inc.; Worth Corporation ST: California IN: REA SU: TNM


RM -- SJ004 -- 0702 01/16/92 16:30 EST
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Publication:PR Newswire
Date:Jan 16, 1992
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