OTHER NEWS - May 3, 1996

RJR Chairman Retiring; Successor Named: RJR Nabisco Holdings Corp. said Charles “Mike” Harper, 68, is retiring after leading the New York-based cigarette and food company through three turbulent years. Steven Goldstone, 50, who succeeded Harper as chief executive in December, will succeed him as chairman as well, RJR said. RJR hired Harper, the star chief executive of foods company ConAgra Inc., in 1993. Although Harper succeeded in restructuring the company, some analysts say he didn’t concentrate enough on its key tobacco brands, allowing RJR’s market share--and its stock price--to sag. Harper took over at RJR while the company was still controlled by Kohlberg Kravis Roberts & Co., which bought the company in the record-setting $25-billion buyout in 1989.