Klipsch Lanham Ivestments to Sponsor John Paul, Jr. at Indy 500

04/24/97

KLIPSCH LANHAM INVESTMENTS SPONSORS '500' CAR PRIMARY SPONSOR OF JOHN
PAUL, JR. IN THE IRL

Indianapolis, IN-Klipsch Lanham Investments (KLI), an
Indianapolis-based investment management company, announced today its
primary sponsorship of Indy Racing League (IRL) driver John Paul,
Jr. and PDM Racing, Inc. For the 81st Indianapolis 500 and the
1997-1998 IRL season.

Paul Diatlovich, co-owner of PDM Racing, said, "We're really happy
about the partnership.  KLI is giving us the support we need so we can
focus on what's really important-- winning races.  It's also great
that KLI is an Indiana-based company.  John Paul is from Indiana, the
team is from Indiana and the car was assembled in Indiana.  We hope
that's a positive omen for the Indy 500."

KLI-affiliated Klipsch, Inc., a leading manufacturer of loudspeakers
for audio and home theater use, will become the primary sponsor of the
team.  Judy Klipsch, co-chairman, Klipsch, Inc., said, "It's
interesting that the terms used to describe racing are the same used
to describe our loudspeakers--efficient, powerful and dynamic."  She
added, "We believe the sponsorship is an important investment and will
be a valuable tool to elevate our sales and marketing efforts."

Associate sponsors include KLI's other business interests: car audio
manufacturer Pyle Manufacturing, L.L.C.; Overhead Door Companies of
Indianapolis, Cincinnati, Fort Wayne and Northeast Indiana, a garage
door supplier; Hospital Affiliates Development Corporation (HADC), a
worldwide developer of healthcare facilities; and Evergreen
Entertainment Inc., a custom display and exhibit company.

Kilpsch, Inc. Has been a sponsor of the Indianapolis 500 Efficiency
Award for several years and the company's involvement with John Paul,
Jr. and PDM Racing is a natural evolution of this Commitment.  Fred
Klipsch, Klipsch, Inc. chairman and CEO, said, "We are pleased to be
affiliated with such a world-class event and proud that our company
will be represented by a drive the caliber of John Paul, Jr. and a
team as experienced as PDM, which has over 20 years racing expertise."

Klipsch, Inc. With corporate headquarters in Indianapolis and
manufacturing facilities in Hope, Arkansas and Huntington, Indiana,
was founded in the 1940's by audio pioneer Paul W. Klipsch.  Klipsch
manufactures and markets a full line of audio and home theater
products, including floorstanding, bookshelf and architectural
loudspeakers, powered subwoofers, center channels and a THX System.
The company also produces some of the original designs of Paul
Klipsch, including the Klipschorn.  Still considered by many to be the
finest loudspeaker ever made, the Klipschorn is the only speaker in
the world that has been in continuous production for over 50 years.

The announcement took place at the PDM Garage at the Indianapolis
Motor Speedway.  Program participants included: Charles Lanham,
chairman, KLI: Fred Klipsch, CEO, KLI; Judy Klipsch, co-chairman,
Klipsch Inc.; IMS president Tony George; PDM Racing, Inc. co-owners
Paul Diatlovich and Chuck Buckman and PDM driver John Paul, Jr., a
veteran of six Indianapolis 500 races.  The #18 PDM Dallara/Oldsmobile
Aurora was on display freshly painted in the Klipsch, Inc. colors of
red, white and black.