OTHER NEWS - May 10, 1993

Icahn Makes New Bid for E-II Holdings: Financier Carl Icahn has renewed his attempt to take over E-II Holdings Inc., maker of Samsonite luggage, McGregor menswear and Culligan water treatment equipment. Icahn has already been rebuffed once in his bid to file a competing reorganization plan for E-II, which has operated under bankruptcy protection for almost a year. Now the former owner of Trans World Airlines is coming back with a proposal that he says would give creditors more money than E-II’s own Chapter 11 plan. Holders of E-II’s $1.2 billion of senior notes and junior bonds are now voting on E-II’s management plan. Icahn wants E-II to let its bondholders compare two offers instead of moving ahead with a single plan that gives senior debt holders a combination of cash and new notes.