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SAM & LIBBY ANNOUNCES TENTATIVE SETTLEMENT

 NEW YORK, Aug. 16 /PRNewswire/ -- Sam & Libby, Inc. (the "company") (NASDAQ-NMS: SAML) announced today that an agreement in principle had been reached to settle the securities class action lawsuit brought against the company in 1992 in the United States District Court for the Northern District of California.
 Under the terms of the settlement, the claims against the company and the other defendants will be dismissed without any admission or presumption of any liability or wrongdoing. A settlement fund valued at $8.25 million will be established. The company's liability insurance carrier will contribute $4.1 million into the fund. The company will contribute $2 million in stock and $2.15 million in cash to the fund.
 The settlement is subject to the execution of a definitive settlement agreement and approvals by the District Court.
 -0- 8/16/93
 /CONTACT: Robert W. Schultz of Sam & Libby, Inc., 212-944-4830/
 (SAML)


CO: Sam & Libby, Inc. ST: New York IN: REA SU:

LD-MG -- NY107 -- 3324 08/16/93 18:40 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
Words:167
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