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MICHAEL FOODS BOARD AUTHORIZES PURCHASE OF COMPANY'S COMMON STOCK

 MINNEAPOLIS, April 19 /PRNewswire/ -- Michael Foods, Inc. (NASDAQ-NMS: MIKL) today announced that its board of directors has authorized the purchase of up to $10 million of the company's common stock on the open market. The company currently has approximately 19.5 million shares outstanding.
 Regarding the board action, Chief Executive Officer Richard G. Olson said, "We believe the stock, at a significant discount to book value, represents an excellent value."
 Michael Foods is a diversified food processor and distributor with particular interests in egg products, refrigerated grocery products, frozen and refrigerated potato products, specialty dairy products and refrigerated soups and salads. Principal subsidiaries include M.G. Waldbaum Company; Crystal Farms Refrigerated Distribution Company; Northern Star Co.; Kohler Mix Specialties, Inc.; and Sunnyside Vegetable Packing, Inc.
 -0- 4/19/93
 /CONTACT: Mark D. Witmer, director of corporate communications of Michael Foods, 612-546-1500/
 (MIKL)


CO: Michael Foods, Inc. ST: Minnesota IN: FOD SU:

AL -- MN011 -- 7351 04/19/93 11:42 EDT
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Publication:PR Newswire
Date:Apr 19, 1993
Words:160
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