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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC -- Ignore unavailable to you. Want to Upgrade?

To: JEM who wrote (20)	12/1/1998 4:20:00 PM
From: JEM	Read Replies (1) \| Respond to of 476

Golden Books Family Entertainment to Sell Wisconsin Printing Facility Business Wire - December 01, 1998 13:30 NEW YORK--(BUSINESS WIRE)--Dec. 1, 1998--Golden Books Family Entertainment, Inc. (Nasdaq:GBFE) (the "Company") today announced its decision to sell its printing facility in Sturtevant, Wisconsin. The newly-constructed plant has been in operation since February of this year. The Racine County facility is a 440,000 square foot manufacturing building located in the Renaissance Business Park. Designed by the architectural firm, Eppstein-Uhen of Milwaukee, Wisconsin, the facility was built to the Company's specifications by First Industrial Development Services Group, L.P., and is being leased to the Company on a long-term basis. The facility was constructed with an eye toward efficiency and cost reduction. "The new facility and its work force do an excellent job and produce a very high quality product," said Richard Collins, the Company's Chief Operating Officer. "However, we feel that it would be in the best interests of Golden Books and the plant for the facility to be owned by a company committed to the printing business which could bring additional work to the facility and reduce unit costs. We plan to have an ongoing relationship with the facility as a customer and look forward to years of good service." S-A Capital, LLC of Stamford, Connecticut has been retained to coordinate the sale of the facility. The Company is the leading publisher of children's books in North America and owns one of the largest libraries of family entertainment copyrights. The Company creates, publishes and markets entertainment products for children and families through all media. This press release may contain forward-looking information. Factors that could affect such information include those mentioned in the Company's Form 10-K and other forms, which are filed with the Securities and Exchange Commission. CONTACT: Golden Books Family Entertainment Investor/Press Contact: Philip Galanes Chief Administrative Officer 212-547-4466