SkyBox International redeems $4 million in Preferred Stock

Business Wire, Dec 19, 1994

DURHAM, N.C.--(BUSINESS WIRE)--Dec. 19, 1994--SkyBox International Inc. (NASDAQ:SKYB) said today it had redeemed $4 million of its Series A Cumulative Voting Preferred Stock from Brooke Group Ltd. (NYSE:BGL) and subsidiaries.

After the redemption of the Preferred Stock, Brooke's and Bennett S. LeBow's combined Common and Preferred Stock voting control will be approximately 17 percent. Brooke continues to own $4 million of Preferred Stock and Brooke and Mr. LeBow own approximately 725,000 shares of common stock.

The company said the redemption of the Preferred Stock is consistent with SkyBox's previously announced intention to redeem the Preferred Stock no later than the first quarter of 1995.

SkyBox International Inc. is a marketer, producer and distributor of collectible sports, comic and entertainment trading cards.

CONTACT: SkyBox International Inc., Durham

             T.E. Smith, 919/361-8237
                         or
             KCSA Public Relations, New York
             Adam I. Friedman or Joseph A. Mansi, 212/682-6565
              ext. 215/205