Empire Company Redeems Series 1 Preferred Shares

Empire Company Limited announced today that it will redeem all of its Series 1 Preferred Shares at a price of $25.00 per share plus accrued and unpaid dividends. The redemption date will be August 15, 1997. At the present time there are 5,040 Series 1 Preferred Shares outstanding representing an aggregate redemption price of $126,000.00 plus accrued and unpaid dividends.

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