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KAISER VENTURES IIINC. <br />ii <br />l <br />News Release <br />I <br />Contact: Pamela M. Catlett <br />(909) 483' 8500 <br />FOR IMMEDIATE <br />VENTURES' CEO RESIGNS <br />Corporate Headqidarrcn, <br />30,33 E. Inland Empire AoHltvard <br />SHire $50 <br />Onrario, California 91764 IN- <br />9091-183-8500 <br />909/944-660.5five <br />Ontario, Calif. (Decelmber 11, 1995) -- Kaiser Ventures Inc. (Nasdaq: KRSC) <br />announced today that Daniel N. Larson has resigned as President, Chief <br />Executive Officer and Director effective January 2, 1996. Larson said he <br />intends to pursue other business and personal interests. <br />"After seven and a half years with Kaiser, I have accomplished much <br />of what I set out to do," Larson said. "Since the bankruptcy reorganization in <br />1988, we have assembled a top-notch management team and successfully <br />positioned the company to continue the successful development of our assets. <br />It is particularly gratifying to achieve the recent success for Kaiser's <br />speedway venture with Penske Speedways and Jnternational Speedway <br />Corporation, as well as to secure the significant environmental insurance <br />settlement recoveries l that will help fund the continuing clean-up of the mill <br />site property. 1995 has been a very successful year for Kaiser. With those and <br />other accomplishments in hand, it's time for me and my family to seek the <br />next adventure." <br />According to Richard E. Stoddard, Kaiser's Chairman of the Board, the <br />Company will not pursue a replacement for Mr. Larson. The Company's <br />Board of Directors assigned the CEO responsibilities to Mr. Stoddard. <br />Stoddard previously held these duties from the Company's inception in 1988 <br />until 1993 when the Board realigned his and Mr. Larson's respective <br />responsibilities. Mr. Larson will assist the Company through the transition of <br />his responsibilities to Mr. Stoddard. <br />"Dan has been a valuable asset to Kaiser and our shareholders for <br />many years," Stoddard said. He was instrumental in achieving major <br />accomplishments for the Company, including the recent completion of the <br />Penske and International Speedway agreement, the resolution of the KSC <br />bankruptcy estate in,1995, and the clean-up on the speedway portion of the <br />mill site property tol, name only a few. While I am personally saddened by <br />his departure, I am confident in the strength and depth of the management <br />team that we have built over the past several years and in our team's ability <br />to pursue the long-term development of Kaiser's assets." <br />(#wwo) <br />q1k <br />ZZ:60 86, Lt 938 Lod 96S 3NOlSJ,3N9 86Z6ZZL202