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MORGAN PRODUCTS LTD. ANNOUNCES STRATEGIC STUDY

 LINCOLNSHIRE, Ill., Oct. 7 /PRNewswire/ -- Morgan Products Ltd. (NYSE: MGN) today announced that its board of directors has authorized the company to retain Dillon, Read & Company, Inc. to help evaluate strategic alternatives for the company, including the possible sale of its Morgan Manufacturing business unit.
 Arthur L. Knight Jr., president and CEO, said, "We expect recommendations from Dillon Read within 90 days. The board will then review the company's long-term strategy for in light of these recommendations."
 Morgan Manufacturing accounted for approximately one-third of the company's total sales in 1992 and represented 47 percent of the company's total year-end assets.
 Morgan Products Ltd. is a leading manufacturers and distributor of specialty building product through its two business units: Morgan Distribution and Morgan Manufacturing.
 Morgan Distribution, a regional wholesale distributor, is comprised of eleven distribution/fabrication centers. Major products distributed include Morgan doors, Andersen premium window systems, Morgan mantels, Morgan stairway systems, Pease and Therma-Tru steel and composite doors, flush doors, molded doors, wood bi-fold doors and louvered doors.
 Morgan Manufacturing a national manufacturer of premium solid wood interior and exterior doors and entrance systems and other specialty building products such as wood veneer and fireplace mantels. Products manufactured by the company are sold under the trade names "Morgan" and "Nicolai." Manufactured products are sold through the company's Morgan Distribution unit and independent distributors, home improvements chain stores and other retail outlets.
 -0- 10/7/93
 /CONTACT: Gerard W. Coffey of G.A. Kraut Company, 212-696-5600; Arthur L. Knight Jr., president and CEO; or Douglas H. MacMillan, vice president and CFO of Morgan Products Ltd., 708-317-2400/
 (MGN)


CO: Morgan Products Ltd. ST: Illinois IN: SU:

SH-TS -- NY034 -- 9701 10/07/93 10:47 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
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