PR Newswire

                              May  13, 1991, Monday

SECTION: Financial News

DISTRIBUTION: TO BUSINESS EDITOR

LENGTH: 499 words

HEADLINE: RHODES NAMED  PRESIDENT OF MAXXAM  PROPERTY COMPANY

DATELINE: HOUSTON, May 13

KEYWORD: bc-Rhodes-Maxxam-pres 

 BODY:     MAXXAM Inc. (AMEX: MXM) announced today that Jeffrey J. Rhodes 
has been named  president of MAXXAM  Property Co., a new subsidiary 
created to supervise the management of MAXXAM's various real estate 
properties and assets.

   Rhodes, 44, has nearly 20 years of experience in real estate 
management, development, and finance, including seven years in top 
management at Miller-Klutznick-Davis-Gray Co. -- two as its president -- 
and, prior to that, seven years in key executive positions at Urban 
Investment and Development Co. He is a director of two publicly traded 
REITs, Hollywood Park Realty and Resort Income Investors, and serves as 
an associate trustee at the University of Pennsylvania.

   At Miller-Klutznick-Davis-Gray, a major real estate investment and 
development company based in Los Angeles, Chicago, Denver, and Boston, 
Rhodes served as president from 1987 to 1989 and as executive vice 
president from 1982 to 1987.  Miller-Klutznick-Davis-Gray is most noted 
for such premier California properties as Pebble Beach Resort, the 
Beverly Hills Hotel, and the Fox Plaza Office Building, and, in Colorado, 
for the Aspen Skiing Company.

   From 1975 to 1982, Rhodes served in key management positions including 
Executive Vice President and CFO at Urban Investment and Development Co., 
one of the nation's largest real estate investment and development 
companies.  Urban Investment and Development, which at the time was a 
wholly owned subsidiary of Aetna Life & Casualty, developed such 
prominent mixed-used properties as Water Tower Place in Chicago and 
Copley Place in Boston, as well as First City Tower in Houston and many 
major downtown office buildings in Denver.  Rhodes left Urban Investment 
and Development with the chairman, Thomas Klutznick, to form 
Miller-Klutznick-Davis-Gray and to serve initially as its executive vice 
president.

   From 1972 to 1975, Rhodes was employed by Sea Pines Company, Hilton 
Head Island, South Carolina, in various treasury and finance functions.

   Rhodes is a 1969 graduate of the University of Pennsylvania (BA, 
Economics) and earned an MBA from the Wharton School of Finance and 
Commerce two years later.  He also attended Yale University Graduate 
School of Law.

                                                                       
PAGE  116                          1991 PR Newswire, May 13, 1991                         


   MAXXAM is engaged in real estate development at various locations in 
the southwestern United States and in Puerto Rico.  Included among its 
properties are Palmas del Mar, a 2,750-acre resort community on the 
southeast coast of Puerto Rico; Lake Havasu City (Arizona), a nearly 
completed, 16,000-acre residential, commercial, industrial, and 
recreational development; and Fountain Hills, a 12,060-acre 
master-planned community immediately east of Scottsdale, Arizona.

   In addition to real estate, MAXXAM Inc. is engaged in aluminum 
production, through its Kaiser Aluminum Corporation subsidiary, and in 
forest products operations, through another subsidiary, The Pacific 
Lumber Company. CONTACT: Robert W. Irelan of MAXXAM Inc., 713-267-3722

ORGANIZATION: MAXXAM Inc.

TICKER-SYMBOL: MXM

GEOGRAPHIC: Texas, California

INDUSTRY: Mining; Metals

CO:  MAXXAM INC; 

TS:  MXM (AMEX); 

IND:  324 ALUMINUM REFINING; 

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