EXHIBIT 99.1





                                      

                                                          
                                                                               
               FREMONT PARTNERS, L.P. TO ACQUIRE KERR GROUP, INC.
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LANCASTER, PENNSYLVANIA (July 1, 1997)--Fremont Partners ("Fremont"), and Kerr
Group, Inc. (NYSE:KGM) jointly announced that they have signed a definitive
merger agreement for Fremont to acquire all of the outstanding common and
preferred shares of Kerr. Pursuant to the agreement, Fremont will pay $5.40 per
share for each outstanding share of Kerr common stock and $12.50 per share for
each outstanding share of Kerr Class B Cumulative Convertible Preferred Stock,
Series D. Kerr currently has 3,933,000 shares of common stock and 487,400 shares
of preferred stock outstanding.

The transaction will be a cash tender offer followed by a cash merger to acquire
any shares not previously tendered. The transaction has been recommended by
Kerr's Board of Directors and approved by Fremont.

Fremont expects to commence its cash tender offer on July 8, 1997. The cash
tender offer is subject to Fremont receiving at least 51% of the fully diluted
shares of common stock of Kerr. The closing of the transaction is subject to the
satisfaction of various conditions, including expiration of the waiting period
under the Hart-Scott-Rodino Act.

Fremont Partners is a $600 million private equity fund, headquartered in San
Francisco.

Kerr, headquartered in Lancaster, Pennsylvania, is a major producer of plastic
packaging products.

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Company Contact:  Geoffrey A. Whynot
                  Vice President, Finance and
                  Chief Financial Officer
                  (717) 390-8439

Fremont Contact:  Gregory P. Spivy
                  Principal
                  (415) 284-8793