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OMC ANNOUNCES AGREEMENTS; WITH GENMAR AND IJ HOLDINGS

 WAUKEGAN, Ill., May 10 /PRNewswire/ -- Outboard Marine Corp. (NYSE: OMC) today announced it had signed a 10-year, pre-rigging agreement with the boat manufacturer Genmar Industries, Inc., and affiliated companies. The agreement will replace a less comprehensive one that expires in 1994.
 Simultaneously, OMC announced that it will spend $14.9 million to purchase approximately a 6 percent equity interest in IJ Holdings, Inc., the ultimate parent company of the boat building operations.
 "Pre-rigging" involves factory-equipping boats with controls and related accessories to readily accept a specific brand of outboard engine. The pre-rigged boat then is sold to a dealer who installs the outboard and connects it to the controls. Pre-rigging greatly reduces the dealership service department time required to prepare a boat for customer delivery.
 Under the new OMC/Genmar agreement, Genmar and affiliated boat operations will rig outboard-powered craft for the installation of OMC's Johnson and Evinrude outboard engines. The participating boat brands include Aqua-Sport, Cajun, Crestliner, Excel, Glastron, Larson, Lund, Ranger and Wellcraft.
 OMC said that, in its first year, the new agreement would significantly increase the unit volume of OMC's pre-rig business with Genmar and affiliated companies. OMC added that the agreement calls for annual increases in pre-rig unit volumes.
 "Pre-rigging is an important part of our strategy to increase sales of our outboards," said OMC Chairman, President and Chief Executive Officer James C. Chapman. "We are very enthusiastic about this agreement because of the quality of the participating boat brands and because the boats to be pre-rigged primarily will be those designed for outboards of 60 or more horsepower. These higher horsepower outboards tend to be our more profitable units," Chapman said.
 Outboard Marine Corp. is a leading international marketer of marine engines, boats, accessories and services.
 -0- 5/10/93
 /CONTACT: Ronald Kuykendall, 708-689-5642, manager-corporate communications of Outboard Marine Corp./
 (OM)


CO: Outboard Marine Corp. ST: Illinois IN: LEI SU:

TS -- NY053 -- 6495 05/10/93 12:23 EDT
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Date:May 10, 1993
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