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INFORMATION REQUIRED IN PROXY STATEMENT
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Proxy Statement Pursuant to Section 14(a) of the Securities
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</TABLE>
INTERIORS, INC.
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(Name of Registrant as Specified in Its Charter)
The Broderick Committee
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<PAGE>
CONTACT: Paul Schulman, Corporate Investor Communications, Inc. 201-896-5690
FOR IMMEDIATE RELEASE
INSTITUTIONAL SHAREHOLDER SERVICES RECOMMENDS SHAREHOLDERS
SUPPORT BRODERICK COMMITTEE NOMINEES TO INTERIORS INC. BOARD
BELTSVILLE, MD December 8, 2000 - The Broderick Committee today announced that
Institutional Shareholder Services ("ISS") has recommended that the shareholders
of Interiors, Inc. ("Interiors") vote FOR The Broderick Committee's slate of
nominees to Interiors' Board of Directors and AGAINST the nominees proposed by
the current management of Interiors at Interiors' Annual Meeting of Stockholders
scheduled for December 15, 2000. ISS, based in Rockville, Maryland, is an
independent advisor to institutional investors and provides proxy research,
voting recommendations for proxy contests, and voting agent services.
The ISS report, pointing to the poor performance of Interiors' stock, stated
that "By most accounts, management's implementation of its strategic plan does
not appear to be taking shape." ISS also reported that "[f]rom a financial point
of view, according to Bloomberg Business News, the company has delivered total
returns of -39.9 percent and -77.4 percent over the past three-year and one-year
periods, respectively, compared with 14.8 percent and 1.2 percent for the Market
Index." Interiors' stock price reached a high of $4.36 on June 21, 1996 and has
fallen to its current level of $0.13, which represents a loss of 97% in value.
In issuing its report, ISS also noted that Interiors "has just adopted a poison
pill with a ten-percent trigger and has had a dual class structure with
supervoting shares [owned by the Munns] since the company's IPO in 1994."
ISS concluded that "adequate time has passed for Interiors' current management
to improve shareholders value. We believe that shareholders' interests would be
better served by [The Broderick Committee]." ISS also recommended against the
proposal to approve the one-for-ten reverse stock split.
Carl McWilliams, a member of The Broderick Committee, said, "We are very pleased
with the ISS recommendation. They have a strong reputation for advocacy of
shareholder interests. We strongly urge shareholders to follow the ISS
recommendation and to sign, date and return their GOLD proxy cards with a vote
FOR our nominees."
Shareholders who have questions or need assistance in voting their GOLD proxy
card should call Corporate Investor Communications at its toll free number (866)
875-6642.
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