KNOLL TO BUY AMERICAN SAVINGS &lt;AAA> SHARES

  American Savings and Loan Association of
  Florida said &lt;Knoll International Holdings Inc> has offered to
  purchase 500,000 new shares of American Savings for 10 mln
  dlrs, and the board has accepted Knoll's offer.
      Knoll already owns 796,413 shares or 9.9 pct of American
  Savings.
      American Savings said the purchase will resolve a
  previously-announced disagreement between American Savings and
  the Federal Home Loan Bank of Atlanta on the replacement of the
  capital American Savings used to repurchase common shares in
  January 1985 from former chairman Marvin L. Warner.
      It said completion of the transaction would give Knoll 15
  pct ownership in American Savings.
      American Savings said Knoll also had talks with chairman of
  the executive committee Shepard Broad and chairman Morris Broad
  on the purchase of their American Savings shares as well at 20
  dlrs each but no agreement was reached.
      American Savings said The company said Knoll's offer to buy
  the new shares is not conditioned on other purchase of common
  stock from any person or entity.
      It said its previously-announced engagement of Salomon Inc
  &lt;SB> to evaluate alternatives to enhance shareholder values,
  including the possible sale of American Savings, is still being
  actively pursued.
  

