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Colonel's International Terminates Preliminary Agreement to Buy Patsy Lou Williamson Auto Dealerships

3 July 1997

The Colonel's International, Inc. Announces Termination Of Preliminary Agreement to Acquire the Patsy Lou Williamson Group Of Automobile Dealerships

    MILAN, Mich., July 3 -- The Colonel's International, Inc.
("Company"), Board of Directors today announced that it has
terminated the preliminary agreement to acquire the new and used car
dealerships owned by Mrs. Patsy Lou Williamson, the Company's Chairwoman.
The Company entered into the preliminary agreement on March 20, 1997 and made
a public announcement of the preliminary agreement on that date.  At this
time, the Company has no intention to acquire any automobile dealerships.
    Further business conducted during the board meeting included acceptance of
Michael J. McCloskey's resignation as Vice Chairman, Director and Chief
Executive Officer, effective June 30, 1997.  Mark Stevens, the Company's
President, will assume the responsibilities of Chief Executive Officer.  Burt
Reynolds, of television and movie fame, has been appointed to the Board of
Directors to fill the Board vacancy.
    The Colonel's, Inc., a wholly-owned subsidiary of the Company based in
Milan, Michigan, is a leading domestic manufacturer of plastic replacement
bumpers and facias for the aftermarket auto industry in North America.
The Colonel's Truck Accessories, Inc., a wholly-owned subsidiary of the
Company, produces truck bed liners for sale to new vehicle dealers and in the
automotive after-market.  Brainerd International Raceway, the Company's other
wholly-owned subsidiary, owns and operates Brainerd International Raceway, a
multi-purpose motor sports facility located in Brainerd, Minnesota.

SOURCE  The Colonel's International, Inc.