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BEN FRANKLIN RETAIL STORES, INC. ISSUES $25 MILLION OF 7-1/2 PERCENT CONVERTIBLE SUBORDINATED NOTES

 CAROL STREAM, Ill., June 11 /PRNewswire/ -- Ben Franklin Retail Stores, Inc. (NASDAQ: BFRS) has completed an offering of $25 million of 7-1/2 percent Convertible Subordinated Notes, due June 1, 2003, it was announced by Dale D. Ward, president and chief executive officer. The company has also granted to the underwriters the option to sell an additional $3.75 million of the Notes to cover over-allotments. The Notes will trade on the NASDAQ Small-Cap Market under the symbol BFRSG.
 Interest on the notes is payable semi-annually on each June 1 and December 1. The conversion price is fixed at $7.75 per share, a premium of 22 percent to the current market price of the company's common stock.
 PaineWebber Incorporated and Hamilton Investments, Inc. are the managing underwriters for the Notes.
 Ben Franklin Retail Stores, Inc. is franchiser to 669 variety stores and 244 craft stores in 47 states. The company also owns and operates 10 Ben Franklin Craft "superstores."
 -0- 6/11/93
 /CONTACT: John Menzer, executive vice president of Ben Franklin Retail Stores, Inc., 708-462-6312/
 (BFRS BFRSG)


CO: Ben Franklin Retail Stores, Inc. ST: Illinois IN: REA SU: OFF

KL -- CL021 -- 1250 06/11/93 17:18 EST
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Publication:PR Newswire
Date:Jun 11, 1993
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