Exhibit 99.1


[Coleman Logo]

                        [The Coleman Company, Inc. Logo]

              The Coleman Company Agrees to Acquisition by Sunbeam

             Sunbeam Will Gain World's Leading Brand Name in Outdoor
                             Recreational Products

      Cash-and-Stock Transaction For All Coleman Common Stock is Valued at
                     Approximately $30.00 Per Coleman Share

    Levin Cities Immediate Shareholder Value and Longer-term Growth Potential
                             Created by Combination

WICHITA, KANSAS, MARCH 2, 1998 -- The Coleman Company, Inc. (NYSE:CLN)
announced today that its Board of Directors has unanimously approved, and
Coleman and certain affiliates have entered into, definitive agreements with
Sunbeam Corporation (NYSE:SOC) for the acquisition of 100% of the outstanding
common stock of The Coleman Company.

Under the terms of the agreements, Sunbeam will acquire each share of Coleman
Company common stock for .5677 shares of Sunbeam common stock and $6.44 in cash.
As a result, shareholders in The Coleman Company will receive a total value of
approximately $30.00 in stock and cash for each share of Coleman Company common
stock, based on the February 27, 1998 New York Stock Exchange closing price for
Sunbeam Corporation common stock of $41.75. The aggregate value of the
cash-and-stock transaction is approximately $2 billion, based on that closing
price.

As a first step in the transaction, Sunbeam will acquire CLN Holdings Inc.,
which owns approximately 82% of the common stock of Coleman. The aggregate
consideration paid for CLN Holdings will be reduced by its debt, which will
remain an obligation of CLN Holdings following the transaction. The price to be
paid for the remaining Coleman shares in the first step will be the same price
paid to the public shareholders in the second step.

It is anticipated that the first step of the transaction, the acquisition by
Sunbeam of CLN Holdings, will close by April of 1998, and the second step, the
acquisition of the Coleman stock held by the public, will close by the end of
the second quarter. Consummation of the transaction is subject to anti-trust and
other customary conditions, and further shareholder approval is not required.

                                     -more-



"After very careful consideration, we decided that the opportunity to conclude
this transaction clearly serves the interests of all Coleman shareholders, who
benefit from both the immediate value and longer-term growth potential created
by joining together with Sunbeam," said Jerry W. Levin, Chairman and Chief
Executive Officer of The Coleman Company. "This new combination will
significantly enhance Coleman's ability to grow its businesses, develop new
products and capitalize on its strong competitive positioning in the U.S. and
international markets. As part of Sunbeam, Coleman can generate even greater
value than it could have achieved on its own.

"Over the past year," Mr. Levin added, "the people of Coleman have done a
terrific job in carrying out a successful restructuring and streamlining of our
operations. This has led to a much stronger, leaner and more focused
organization. We are now concentrating on the Company's core businesses in
outdoor recreation, with a special emphasis on developing and rapidly bringing
to market an impressive array of new products. Sunbeam is committed to
continuing the fundamentals of this strategy, while also intensifying efforts to
capture all the tremendous growth potential represented by the Coleman brand
name."

Credit Suisse First Boston acted as financial advisor to The Coleman Company in
the aforementioned transaction.

Coleman is the world's leading manufacturer and marketer of outdoor recreational
products. It manufactures and distributes widely diversified product lines for
camping, leisure time and hardware markets in the United States, Canada and more
than 100 other countries.

Information in this release, including, without limitation, any statements
regarding the combined company's expectations for future growth in revenues or
earnings, or the stock price of Sunbeam's common stock, includes forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All such forward-looking statements involve risks
and uncertainties including significant delays in consummation of the business
combination. The Company assumes no responsibility to update the forward-looking
information contained herein.

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Contact:

     Media Contact:                           Investor Relations Contact:
     Walter Montgomery                        Marc R. Shiffman           
     (212) 484-6721                           (212) 527-4557