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STANDARD BRANDS POSITIONED FOR NEW GROWTH BY APPLYING SUCCESSFUL LOW COST PRICING AND CUSTOMER SERVICE STRATEGIES

 POMPANO BEACH, Fla., April 30 /PRNewswire/ -- Standard Brands of America, Inc. announced today that the company has emerged from bankruptcy and is well positioned for consistent growth throughout the 90s.
 Edward H. McCluskey, chairman of the board, stated that a number of factors will enhance the company's growth prospects and help it regain its competitive edge as a major audio, video and appliance retailer in the state of Florida.
 "We have no doubt about our ability to not only compete but beat the competition," McCluskey stated. "We have streamlined and consolidated our operations for maximum efficiency, but we have sacrificed nothing in terms of the customer service this family-owned company has been noted for since its founding in 1977. Along with more knowledgeable and well- trained sales people, we're offering Standard Brands customers the lowest prices available, and an expanded product line -- including leading brands like Mitsubishi, Frigidaire, Maytag, Whirlpool, RCA, GE and Hitachi."
 According to Jeff Beck, the court-appointed examiner for the Chapter 11 filing, the company has undergone a highly successful restructuring and emerged from a bankruptcy that was largely precipitated by adverse economic conditions throughout 1991.
 "This is a well managed company," Beck stated, "with an impressive track record other than the troubled period before the filing and a history of stable and consistent growth. I have every expectation that the continued emphasis on aggressive pricing strategies and exceptional customer service will ensure a significant increase in sales as the company recommits itself to these basic strategies in the coming year."
 Standard Brands Positioned for New Growth...
 Founded in 1977 by Edward H. McCluskey, Standard Brands is a leading retailer of audio, video and appliances, operating from 13 locations throughout Florida. Present locations include: 2199 W. Atlantic Blvd. in Pompano; 2450 Wilton Dr. in Wilton Manors; 2134 S. University Dr. in Davie; 1871 W. New Haven Ave. in Melbourne; 35 Goodwin Dr. in Merritt Island; 10014-2 Atlantic Blvd.; 1403-27 Dunn Ave. and 10950 San Jose Blvd. No. 50, in Jacksonville; 88 S. Blanding Blvd. in Orange Park; 14151 S. Tamiami Trail in Fort Myers; 4170 North Tamiami Trail in North Naples; 10001 Tamiami Trail East, in Naples and 1338 Del Prado in Cape Coral.
 According to Edward V. McCluskey Jr., son of the founder and president, the company's plans for 1993 include more aggressive advertising, particularly to promote its unique 125 percent low price guarantee.
 "When we say we won't be undersold, it's more than a slogan," McCluskey said. "Our 125 percent guarantee gives us a real competitive edge and we intend to remind our loyal customers that they can continue to expect that kind of low pricing from us. We not only refund the difference if a customer finds something at a lower price -- we add 25 percent of the difference."
 In addition to the 125 percent low price guarantee, McCluskey stated that Standard Brands offers customers the advantage of a credit card with easy and convenient terms.
 "Our first commitment has always been to give our customers the best products at the best prices," he stated. "The guarantee and the Standard Brands Credit Card are concrete examples of what this philosophy is all about."
 -0- 4/30/93
 /CONTACT: Dorothy Coffey of Harris Drury Cohen, 305-771-1800, for Standard Brands of America, Inc./


CO: Standard Brands of America, Inc. ST: Florida IN: REA SU:

JB-AW -- FL008 -- 3279 04/30/93 14:08 EDT
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Publication:PR Newswire
Date:Apr 30, 1993
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