OTHER NEWS - May 21, 1996

KKR Saw $1.6 Billion in Gains for 1995: According to its annual report, New York-based Kohlberg Kravis Roberts & Co., the biggest U.S. buyout group, pumped $950 million of its capital into acquisitions last year and reaped $1.6 billion in gains on its investments. KKR made five acquisitions last year, spending a total of $5.11 billion, including borrowed money. It profited from selling stakes in companies such as Duracell International Inc., Autozone Inc. and Safeway Inc. Although the firm benefited from surging stocks, record high prices also made it more difficult for it to pick new targets. Its purchases last year were smaller than many of those KKR made during the 1980s. KKR is a closely held 20-year-old partnership that specializes in leveraged buyouts. KKR does not release its profit results.