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CLUB CAR ENTERS INTO SUPPLEMENTAL INDENTURE

 AUGUSTA, Ga., Oct. 5 /PRNewswire/ -- Club Car, Inc. announced today that it entered into a supplemental indenture on Oct. 4, 1993 with respect to its 14-1/2 percent senior notes due 1999, allowing the company to grant the liens contemplated by a new bank credit agreement to be entered into by the company without equally and ratably securing the notes. The company had previously announced that, in connection with its cash tender offer for all of the $83,800,000 aggregate outstanding principal amount of the notes and the related consent solicitation, it had received from holders of the Notes the consents needed to amend the indenture.
 As a result, except as otherwise provided with respect to tendered notes in the offer to purchase and consent solicitation statement previously distributed to holders, withdrawal rights with respect to both tendered notes and delivered consents have expired. In addition, the company will no longer accept, or pay for, consents delivered without the concurrent tender of notes. Holders of notes who tender their notes (and thereby deliver a consent) prior to the final expiration date of the offer and consent solicitation and whose notes are accepted for purchase pursuant to the offer will, however, receive the consent payment of $7.50, in addition to the tender consideration of $1,090, for each $1,000 principal amount of notes tendered.
 As previously announced, the offer and consent solicitation are now scheduled to expire at midnight, New York City time, on Oct. 15, 1993, unless further extended by the company.
 The company's obligation to complete the offer and consent solicitation is dependent upon certain conditions, including the consummation of a pending initial public offering of the company's common stock and the company's entering into a new bank credit agreement. The supplemental indenture is effective as of Oct. 4, 1993; however, if the company fails to enter into the new bank credit agreement, the waiver effected thereby will have no force or effect.
 Donaldson, Lufkin & Jenrette Securities Corporation and The First Boston Corporation are acting as dealer-managers for the offer and consent solicitation.
 -0- 10/05/93
 /CONTACT: George H. Inman, chairman and chief executive officer of Club Car, Inc., 706-863-3000/


CO: Club Car, Inc. ST: Georgia IN: SU:

LG -- NY010 -- 8701 10/05/93 08:25 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
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