EXHIBIT 99.1

              THE L.L. KNICKERBOCKER CO., INC. REPORTS THE SALE OF
                        SUBSTANTIALLY ALL OF THE ASSETS


Lake Forest, California, October 17, 2001. The L.L. Knickerbocker Co., Inc.
reported today the closing of the sale of substantially all of its assets (the
"Sale") to Marian, LLC, a California limited liability company formed by Brian
Blosil. In consideration for the purchase of Knickerbocker's assets, the
purchaser assumed approximately $2,020,000 in secured debt owed by Knickerbocker
to Republic Financial Corporation, assumed approximately $1,300,000 of
Knickerbocker's debts and liabilities, and agreed to issue to the Official
Committee of the pre-petition unsecured creditors of Knickerbocker a
subordinated promissory note in the aggregate principal amount of approximately
$1,860,000. The shareholders of Knickerbocker will not receive any proceeds from
the Sale. Following the consummation of the Sale, Knickerbocker has been left
with little or no assets and Knickerbocker will file with the Bankruptcy Court a
plan of liquidation. The shareholders of Knickerbocker are not expected to
receive any proceeds pursuant to such plan of liquidation.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: This news release contains forward-looking statements. Such statements
reflect the current views of the Company with respect to future events and are
subject to certain risks, uncertainties and assumptions. Although the Company
believes that the expectations reflected in such forward-looking statements are
reasonable, should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual future results or events
may vary materially from those described herein.