Craftmatic Industries, Inc.

Craftmatic Industries, Inc. is a marketing and sales organization which is involved in the distribution and sale of the Craftmatic Adjustable Bed, which is an electric adjustable bed specifically designed for residential use having certain features of a hospital bed. The company conducts its own direct sales operations in Pennsylvania, New Jersey, New York, Delaware, Connecticut, Florida, Georgia, Alabama, Mississippi and Lousiana and is also a wholesale distributor of the bed to independent direct sales organizations in other markets. Retail sales of beds accounted for 50% of fiscal 1994 revenues; wholesale sales, 29% and advertising services, 21%.