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NOBILITY HOMES, INC. ANNOUNCES OUTSTANDING FOURTH QUARTER AND YEAR END SALES AND PROPOSED ACQUISITION

 OCALA, Fla., Nov. 9 /PRNewswire/ -- Nobility Homes, Inc. (NASDAQ: NOBH) today announced sales results for its fourth quarter and fiscal year ended Oct. 31, 1993. Sales in the fourth quarter of 1993 increased 83 percent to $4,750,000 as compared to $2,600,000 recorded in the fourth quarter of fiscal 1992. Sales for the fiscal year 1993 were $17,300,000, an increase in 78 percent over sales of $9,740,000 for the same period in 1992.
 Nobility announces that negotiations have begun to acquire Prestige Home Center, Inc., the company's largest retailer of homes for the past three years. An investment banking firm will be retained by the board of directors to render a fairness opinion and advise the company with regards to the proposed acquisition. Terry Trexler, president, stated, "Prestige Home Centers has been the primary reason for Nobility Homes' growth over the past year. The proposed acquisition will secure a more stable distribution network for the company's homes and provide a vehicle to further increase sales." Presige is presently the largest retailer of double-wide homes in the state of Florida. They currently have eight sales locations and plan to expand that number in the immediate future.
 Trexler further stated, "Nobility's strong sales results continue to reflect an improving market in Florida for our homes. With the growing number of exclusive Nobility dealers in the state and continued low interest rates, Nobility is reaching more of the family market buyers. Management's plans call for additional emphasis on exclusive dealer locations in other areas of Florida. Business continues to look strong for the first quarter of fiscal 1994 based on the current economy, improving consumer confidence and further expansion of our exclusive dealer network."
 -0- 11/9/93
 /CONTACT: John Cramer, treasurer of Nobility Homes, 904-732-5157/
 (NOBH)


CO: Nobility Homes, Inc. ST: Florida IN: CST SU: ERN

JB-SS -- FL007 -- 2306 11/09/93 13:33 EST
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Publication:PR Newswire
Date:Nov 9, 1993
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