TCR_Public/950710.MBX


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        SLM INTERNATIONAL COMPLETES THE SALE OF BUDDY L TOY AND FITNESS ASSETS  

         

            NEW YORK, NY--July 10, 1995--SLM
International, Inc. (OTC Bulletin Board: "SLMI") announced today that the Company
has completed the previously announced sale of substantially all of the
        toy assets of Buddy L Inc. and Buddy L (Hong
Kong) Limited, subsidiaries of SLM International, to Empire of Carolina, Inc.
        (AMEX:EMP).  Empire purchased the toy assets of these subsidiaries
        pursuant to a Bankruptcy Court-sanctioned auction proceeding held on
        May 19, 1995.  In addition, Empire purchased the toy assets of a
        Canadian subsidiary of SLM.   

         

            According to the terms of the final agreement, Empire purchased
        approximately $16.6 million of Buddy L accounts receivable,
        inventory and equipment.  Additionally, the consideration includes
        approximately 757,000 shares of Empire common stock, $3.75 million
        in cash and a five-year earnout based on earnings performance less
        certain adjustments.   

         

            Separately, the company completed the previously announced sale
        of the fitness assets of Buddy L in the United States and Canada.
        The Buddy L fitness assets were sold to a group composed of members
        of its fitness division management with financing provided by
        Capstone Group, Inc.  for approximately $3.2 million in cash.
        Substantially all of the proceeds were paid to Buddy L.   

         

            The proceeds received from the sale of the toy and fitness
        assets will principally be used to reduce SLM's indebtedness.   

         

            "We believe the completion of these transactions represents a
        very positive step in the future of SLM International, as it allows
        us to reduce our indebtedness and focus primarily on the growth of
        our core business,"  stated Chief Executive Officer Howard
        Zunenshine.  "We are looking forward now to pursuing our goal of
        establishing SLM as a leading marketer of sporting goods,
        specializing in hockey equipment, in-line skating products and
        sports apparel."   

         

            Mr.  Zunenshine also noted two other developments that, as
        previously announced, are expected to benefit the Company.  The
        first is a Standstill Agreement between SLM and the holders of $75
        million of the Company's Senior Notes.  The Standstill Agreement
        permits SLM and its operating subsidiaries to continue to operate
        their business in accordance with their business plan which has been
        presented to the Noteholders.  The Standstill Agreement will remain
        in effect, subject to certain conditions, through December 31, 1995.
        In connection with the Standstill Agreement, the Noteholders have
        received certain concessions from SLM and have withdrawn involuntary
        bankruptcy filings pending against SLM and its subsidiaries in
        Canada.   

         

            The second development is SLM's decision to retain the
        investment banking firm of Bear, Stearns & Co.  Inc.  to assist the
        Company in exploring a wide variety of possible financial
        transactions, including refinancing its existing indebtedness and
        obtaining additional equity capital.   

         

            SLM International, Inc.  designs, develops, manufactures and
        markets a broad range of sporting goods on a worldwide basis.   

         
         CONTACT: SLM International, Inc.

                  Howard Zunenshine, (514) 331-5150
                                   or
                  John Sarto
                  (212) 675-0070
                                   or
                  Morgen-Walke Associates, New York
                  Investor Relations:
                  David Walke/Melissa Garelick
                  Press: Lisa Bradlow
                  (212) 850-5600
         




        EMPIRE OF CAROLINA, INC. COMPLETES ACQUISITION OF ASSETS OF BUDDY L

         

            DELRAY BEACH, Fla., July 10, 1995--Empire of Carolina,
        Inc. (AMEX: EMP), today announced that the Company has completed the
        previously announced acquisition of substantially all of the toy
        assets of Buddy L Inc., Buddy L (Hong Kong)
Limited, and Buddy L Canada, subsidiaries of SLM International (OTC Bulletin
Board:SLMI).  The toy assets of Buddy L were awarded to Empire in a Bankruptcy Court-
sanctioned auction proceeding held on May 19, 1995.

         

            According to the terms of the final agreement, Empire will issue
        to the creditors of Buddy L 792,000 shares of Empire common stock
        and $3.75 million in cash.  The creditors will also receive a five-
        year earnout based on earnings performance of the company less any
        offsets that relate to obligations not otherwise discharged by the
        Bankruptcy Court order and expenses and any costs associated with
        the possible relocation of facilities.  As part of the transaction,
        Empire will also purchase approximately $1.1 million and $14.9
        million, respectively, of Buddy L accounts receivable and inventory.

         

            Steven Geller, Chairman and Chief Executive Officer of Empire,
        noted, "The acquisition of Buddy L is an exciting complement to
        Empire's existing business and will significantly broaden our core
        product lines. Moreover, we expect to realize substantial operating
        efficiencies in manufacturing, marketing and distribution once the
        acquisition is fully integrated."

         

            Marvin Smollar, President and Chief Operating Officer, added,
        "This acquisition will substantially increase our critical mass.  In
        1994, Buddy L generated approximately $129 million in revenue.
        While there has been some erosion in the revenue base of Buddy L
        during this difficult period, the core business remains vital, and
        we believe that during 1996, operations can return to a revenue run
        rate similar to that of 1994."

         

            Empire of Carolina designs, develops, manufactures and markets a
        broad range of basic plastic children's toys.  Its Holiday Products
        Division produces and markets decorative seasonal items including
        Christmas, Halloween and Easter illuminated products.  The Company's
        full line of basic toys include the Big Wheel line of ride-on toys,
        Grand Champion collectible horse figures, the MR-1 line of race car
        sets as well as T.V. advertised and licensed products.

         

       /CONTACT:  Investor Relations:  Naomi Rosenfeld or Betsy Brod, or
        Press:  Lisa Bradlow of Morgen-Walke Associates, 212-850-5600/







        UDC confirms receipt of letter of interest from Pulte  
   

      

            TEMPE, Ariz.--July 10, 1995--UDC Homes Inc.
        ("UDC")
confirmed today that it has received a letter from Pulte
        Corp. ("Pulte") in which Pulte has indicated that it is interested
        in considering whether to present a "proposal for a change of
        control transaction that (would) be the basis for a plan of
        reorganization" for UDC.
   

      

            The letter from Pulte also stated that the presentation of a
        Pulte proposal was subject to due diligence and other unspecified
        matters within Pulte's sole discretion.
   

      

            UDC said that the letter from Pulte did not contain any proposed
        transaction terms, including with respect to a proposed purchase
        price for UDC.  If and when a proposal is presented by Pulte, UDC's
        board of directors would consider such a proposal in light of its
        fiduciary duties.  There can be no assurance, however, that a
        transaction with Pulte will be proposed or, if proposed, what the
        terms of such a proposal might be.  As a matter of corporate policy,
        UDC does not expect to comment on the details of any proposal which
        might be received by UDC from Pulte.
   

      

            On May 16, 1995, UDC entered into a Stock Purchase Agreement
        (the "DMB Stock Purchase Agreement") with DMB Property Ventures
        Limited Partnership ("DMB"), a Phoenix based real estate investment
        and development company, pursuant to which DMB would acquire all of
        the equity of reorganized UDC, subject to certain terms and
        conditions provided therein.  On May 17, 1995, UDC Homes Inc. filed
        a petition for relief under Chapter 11 of the Bankruptcy code with
        the United States Bankruptcy court in the District of Delaware and
        subsequently, on July 6, 1995, filed its first amended plan of
        reorganization, pursuant to which DMB would acquire all of the
        equity of reorganized UDC in accordance with the terms and
        conditions of the DMB Stock Purchase Agreement.  A hearing on the
        disclosure statement relating to the reorganization plan is set for
        August 3, 1995.  Votes on the reorganization plan cannot be
        solicited unless and until the disclosure statement is approved by
        the Bankruptcy Court and transmitted to creditors.
   

         
        CONTACT: Michael Singer

                 Arthur Schmidt and Associates
                 212/953-5555

         



        TELIOS ANNOUNCES RESULTS OF BALLOTING ON PROPOSED PLAN OF
        REORGANIZATION
   

      

            SAN DIEGO, Ca--July 10, 1995--Telios
Pharmaceuticals Inc. (Nasdaq: TLIOQ)
(the "company") announced in its ballot  
report to the U.S. Bankruptcy Court for the Southern District of California
        that every voting class of stakeholders in the company, including
        the Preferred and Common shareholders, voted in favor of the
        company's proposed Plan of Reorganization.
   

      

            A hearing has commenced in the U.S. Bankruptcy Court for the
        Southern District of California for the purpose of considering
        confirmation of the company's Plan of Reorganization.
   

      

            As previously announced, only holders of record on May 24, 1995,
        of the company's Preferred Stock and Common Stock will be entitled
        to receive treatment under the proposed Plan of Reorganization.
   

      

        /CONTACT:  Todd E. Simpson, CFO of Telios Pharmaceuticals,
        619-622-2615/