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                                                                    EXHIBIT 99.1

FOR IMMEDIATE RELEASE

Contact:          Joseph P. Tomczak
                  Kevco, Inc.
                  Chief Financial Officer
                  (817) 885-0000

         KEVCO, INC. AND ALLIANCE INVESTMENT & MANAGEMENT COMPANY, INC.
             ANNOUNCE SALE OF CERTAIN KEVCO DISTRIBUTION OPERATIONS

FORT WORTH, TEXAS (MAY 3, 2001) - Kevco, Inc. today announced that its
subsidiary, Kevco Distribution, L.P., has sold certain assets to Alliance
Investment & Management Company, Inc. ("Alliance"). The sale was approved on
April 25, 2001 by the United States Bankruptcy Court for the Northern District
of Texas, which is presiding over Kevco's Chapter 11 proceedings. The final
terms of the sale were not disclosed. The transaction involved the sale of
Kevco's distribution facilities and related inventory at Cordele, Ga. and Ocala,
Fl. The sale also included Kevco's distribution equipment and inventory at New
London, N.C.; Haleyville, Al.; and Waco, Tx., as well as inventory at Elkhart,
In. Alliance, a privately owned company based in Cordele, Ga., plans to operate
as Service Supply Distribution. Service Supply and will have distribution
operations located in Cordele, Ga.; Haleyville, Al.; Ocala, Fl.; New London,
N.C.; and Waco, Tx.

         Kevco and its subsidiaries filed voluntary petitions for reorganization
under Chapter 11 of the United States Bankruptcy Code. The petitions were filed
in the United States Bankruptcy Court for the Northern District of Texas on
February 5, 2001.

         Kevco, headquartered in Fort Worth, Texas, is a wholesale distributor
and manufacturer of building products for the manufactured housing and
recreational vehicle industries.

         This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include those relating to implementation of the
Company's cost improvement and operating efficiency initiatives, the effect of
installation of a new information system, the outlook for and advantages of
manufactured housing and includes statements relating to the Company or its
operations that include terms such as "expects," "believes," "anticipates,"
"intends," "goals" and similar expressions. Forward-looking statements are not
guarantees of future performance and involve risks and uncertainties. The
Company's actual results, performance and achievements could differ materially
from the results, performance or achievements expressed in, or implied by, these
forward-looking statements as a result of various factors, including without
limitation, the Company's substantial leverage and its effects on the Company's
ability to obtain additional capital as needed, the adequacy of existing funds
to meet liquidity needs, the Company's ability to integrate its operations and
realize savings from the implementation of its new management information
systems, the realization of savings from plant consolidations and staff
reduction; the ability of the manufactured housing industry to reduce inventory,
customer demand for manufactured housing and recreational vehicles, the effect
of general economic conditions, including increasing interest rates, the
availability of financing for manufactured housing customers and the impact of
raw materials prices. This press release speaks as of the date it is released.
The Company does not intend to, and does not undertake to, update information
contained in this press release absent an express obligation to do so in
connection with required filings under Federal securities laws. A description of
these factors, as well as other factors which could affect the Company's
business, is set forth in filings by the Company with the Securities and
Exchange Commission, including the Company's Form 10-K for the year ended
December 31, 1999 and Form 10-Q for the quarter ended September 30, 2000.