Postal Instant Press said it has reached...

Postal Instant Press said it has reached a standstill agreement that will limit further stock purchases by suitor Kane-Miller Corp. for nearly three years. The agreement would prohibit Kane-Miller, a Tarrytown, N.Y., food processor and distributor, from acquiring more than 18% of Los Angeles-based PIP, the nation’s largest franchiser of printing centers, before June 30, 1990. Kane-Miller owns 12.1% of PIP. In exchange, Kane-Miller will be permitted to nominate two directors to PIP’s board, bringing the total to nine.