CRAZY EDDIE <CRCY.O> WON'T OPPOSE SLATE
Crazy Eddie Inc said its board will
not oppose the slate of nominees proposed for election to the
board by the committee led by Entertainment Marketing Inc <EM>
and the <Oppenheimer-Palmieri Fund, LP.>
    Crazy Eddie said its board is not endorsing, but will
simply refrain from opposing, the EMI-Palmieri nominees.    
The board also said it will ask representatives of the
Committee to Restore Shareholder value to begin acquainting
themselves with the business and affairs of the company as
promptly as possible.
   
    To that end, the committee's representatives will be
invited in advance of the annual meeting to examine the
company's financial records, to monitor its operations and to
join company officers in meetings with the company's suppliers,
bankers and key personnel, Crazy Eddie said.
    The board said that to continue to oppose the EMI-Palmieri
group would only increase the expenses of the company, create
further uncertainty among its suppliers, customers and
employees, and result in deterioration of moral among company
personnel.
    A further release from the company will follow, it said.
 Reuter
