OTHER NEWS - April 2, 1996

Masco to Sell Home Furnishings Business: The Taylor, Mich.-based company said it will receive about $760 million in cash, with the remainder to be paid in subordinated debt, preferred stock and 15% of the common equity of Furnishings International. Separately, Masco Corp. said it expects first-quarter earnings to be 35 cents to 40 cents a share, lower than expected. The maker of Delta faucets and Fieldstone cabinets was expected to earn 45 cents a share. Furnishings International is a closely held St. Louis holding company created to make acquisitions in home furnishings. Masco announced in November that it would sell the unit, which includes such high-end lines as Drexel Heritage and Henredon, to Morgan Stanley Capital Partners for about $1.1 billion. That transaction was canceled in early January.