OTHER NEWS - May 6, 1995

Margolis Returns as CEO of Cherokee: Cherokee Inc. said that it named Robert Margolis chairman and chief executive. Margolis led the casual apparel and footwear company out of bankruptcy two years ago. In a press release, the company said under an agreement with Margolis, he and two members of his investment group, Jess Ravich and Doug Weitman, will be elected to the company’s board, replacing Peter Brown, Peter Handal and B. Chris Schwartz, who have resigned. Margolis, who holds a 25% stake in Cherokee, was a founder of the company’s apparel division in 1981. Less than six months ago, Cherokee’s second prepackaged Chapter 11 reorganization plan in under two years was approved in U.S. Bankruptcy Court. Margolis previously served as chairman and chief executive of the Sunland company. He left his post as chief executive of Cherokee in November, 1993, after 13 years with the company. He is currently president of the Wilstar Group, a private label manufacturing company.