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PROMUS ANNOUNCES RULING IN WALTER LITIGATION

 MEMPHIS, Tenn., Feb. 18 /PRNewswire/ -- The Promus Companies Incorporated (NYSE: PRI) today announced that the U.S. Court of Appeals for the Third Circuit affirmed the judgement of the U.S. District Court for the District of New Jersey in favor of the defendants in the case of Louis Walter et al. v. Holiday Inns, Inc., et al. The case involved the 1981 purchase by Holiday Inns, Inc. of the plaintiffs' interest in Harrah's Marina Hotel Casino in Atlantic City, New Jersey.
 Michael D. Rose, Chairman and Chief Executive Officer of Promus said, "We are quite pleased with the Court's ruling. This vindicates our long standing position that the plaintiffs' claims were without merit."
 Promus is the parent company of four leading brand names in the casino entertainment and hotel industries: Harrah's Casino Hotels, Embassy Suites hotels, Hampton Inn hotels and Homewood Suites hotels.
 -0- 2/18/93
 /CONTACT: Ralph Berry, The Promus Companies Incorporated, 901-762-8629/
 (PRI)


CO: The Promus Companies Incorporated ST: Tennessee IN: LEI SU:

MM -- CH001 -- 7699 02/18/93 08:53 EST
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Publication:PR Newswire
Date:Feb 18, 1993
Words:176
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