EMERSON RADIO CORP. ANNOUNCES SUBSTANTIAL INCREASE IN EXISTING CREDIT FACILITY; - Hang Seng Bank Letter of Credit Line Increased from $50 Million to $100 Million -

Business Wire, Dec 12, 1994

PARSIPPANY, N.J.--(BUSINESS WIRE)--Dec. 12, 1994--EMERSON RADIO CORP. (OTC Electronic Bulletin Board Symbol:EMER) today announced that EMERSON RADIO (H.K.) LTD, its Hong Kong subsidiary, has completed agreements increasing one of the subsidiary's credit facilities.

Hang Seng Bank of Hong Kong has expanded an existing letter of credit line from $50 million to $100 million, pending final approval by the Bank. Hang Seng has also extended EMERSON RADIO (H.K.) LTD.'S secured general trade finance line from $6.4 million to $11.5 million.

Commenting on the announcement, Eugene I. Davis, President, stated, "This new facility, as well as the recently announced Norwest Bank credit line, will help EMERSON meet growing U.S. sales volume and pursue EMERSON'S goal of establishing a major presence in many of the quickly growing regions of the Far East. We are confident that these new financing sources securely position EMERSON to achieve its long-term growth plans."

EMERSON RADIO CORP., founded in 1948, is headquartered in Parsippany, NJ. The Company designs and markets, throughout the world, a full line of televisions, video, audio and microwave oven products.

CONTACT: Emerson Radio Corp., Parsippany

            Eugene I. Davis, 201/884-5800
                         or
            Media Contact: Sharon Fenster/Andrew LaGuardia
            Geltzer & Company, (212) 575-1976
                            or
            Lippert/Heilshorn & Associates, New York
            Andrew Jeske, 212/838-3777 ext. 109;
            David Frank, ext. 128