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ROADMASTER COMPLETES REAL ESTATE SALE PART OF DELEVERAGING PLAN SAYS COMPANY

 ROADMASTER COMPLETES REAL ESTATE SALE
 PART OF DELEVERAGING PLAN SAYS COMPANY
 ENGLEWOOD, Colo., Jan. 24 /PRNewswire/ -- Roadmaster Industries Inc. ("RMI") (NASDAQ: WHEL) said today that its wholly-owned unit, Roadmaster Corp., had completed the sale of its Wisconsin Street property in Delavan, Wis. to an unaffiliated private investor. As a result of the transaction which was completed for a sale price of approximately $2 million the company said it will realize a net gain of $350,000. The property sold is presently occupied by Ajay Leisure Products Inc. and will be leased back on a 10-year lease arrangement from the new owners.
 "This transaction is the beginning of an aggressive strategy to deleverage the company," said Henry Fong, RMI chairman and president. "The term loans have been reduced from an original balance of $21 million to $11.1 million," added Fong. The company also said that it will announce very shortly other initiatives in this area, all focused on further maximization of shareholder value.
 Roadmaster Industries operates through its two wholly-owned subsidiaries, Roadmaster Corp. and Hamilton Lamp Corp. Roadmaster Corp. is a leading designer and manufacturer of junior wheel goods, bicycles and health fitness equipment. Hamilton Lamp Corp. is a leading manufacturer of lamps and replacement shades.
 -0- 1/24/92
 /CONTACT: Henry Fong of Roadmaster Industries, 303-290-8150/
 (WHEL) CO: Roadmaster Industries Inc. ST: Colorado, Wisconsin IN: SU:


BB -- DV002 -- 3218 01/24/92 10:56 EST
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Publication:PR Newswire
Date:Jan 24, 1992
Words:236
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