Playboy Enterprises adds new board member

Business Wire, March 22, 1996

CHICAGO--(BUSINESS WIRE)--March 22, 1996--Playboy Enterprises today said that it expects to add David I. Chemerow to its board of directors. The company also said that Chemerow, who has served as Playboy's executive vice president, finance and operations, and chief financial officer since 1990, will be leaving the company in early April to join ENTEX Information Services in Rye Brook, N.Y.

Christie Hefner, chairman and chief executive officer of Playboy, said: "David has played an important role in our recent growth. He was instrumental in the successful completion of our first secondary offering in 1993, in last year's launch of our first international Playboy TV channels and in the development of strategies that led to our re-entry into the gaming business and the creation of our pay site on the Internet, which we expect to go up this spring.

"We are pleased that David will continue to serve the company as a non-executive member of our board of directors, providing oversight and counsel as we expand our global presence and pursue the kinds of new entertainment opportunities that are consistent with our image and assets," Hefner said.

On Playboy's board, Chemerow will join four other non-executive directors: Dennis S. Bookshester, independent business consultant; Robert Kamerschen, chairman and chief executive officer of Advo, Inc.; Sol Rosenthal, senior partner, Buchalter, Nemer, Fields & Younger; and Sir Brian Wolfson, former chairman of Wembley, plc.; and two executive directors: Christie Hefner, chairman and chief executive officer of Playboy Enterprises, Inc.; and Richard S. Rosenzweig, executive vice president of Playboy Enterprises.

Prior to joining Playboy, Chemerow was president of Beechwood Capital Corporation, an investment company involved in acquiring and operating businesses. Previously, he held a number of high-ranking positions with Primerica Corporation, including vice president and corporate treasurer, senior vice president and corporate controller and, lastly, senior vice president of operations.

Chemerow holds a B.A. from Dartmouth College and an M.B.A. from the Amos Tuck School of Business Administration. He is a director of Dunham's Athleisure Corporation and vice chairman of the Court Theater in Chicago.

Playboy Enterprises, Inc. is an international media and entertainment company that publishes Playboy magazine and produces brand extensions, including newsstand specials, international editions and new media products and services; operates a direct marketing business, including the Critics' Choice Video, Collectors' Choice Music and Playboy catalogs; creates and distributes programming for domestic pay television, worldwide home video and international television; and markets the Playboy trademarks on apparel, accessories and products sold throughout the world.

CONTACT: Playboy Enterprises, Chicago

Martha Lindeman, 312/751-8000 ext. 2650