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FRIEDMAN'S INC. ANNOUNCES CLOSING FOR UNDERWRITERS' EXERCISE OF OVER-ALLOTMENT OPTION; 495,000 SHARES AT $10 PER SHARE

 SAVANNAH, Ga., Nov. 18 /PRNewswire/ -- Friedman's Inc. (NASDAQ-NMS: FRDM) today announced that the Underwriters in its initial public offering of 3.3 million shares of its Class A Common Stock exercised their over-allotment option to purchase an additional 495,000 shares of Friedman's Inc. Class A Common Stock.
 The transaction closed today.
 The net proceeds from the exercise of the over-allotment option (approximately $4.6 million) will be used to establish new jewelry stores and provide working capital for existing and new stores.
 Kidder, Peabody & Co. Incorporated was the managing underwriter for the offering and the co-managers were Morgan Keegan & Company, Inc. and Morgan Schiff & Co., Inc.
 Friedman's Inc. is a rapidly expanding specialty retailer of fine jewelry based in Savannah. The company is the leading operator of fine jewelry stores located in power strip centers. The company's Class A Common Stock is traded on the NASDAQ National Market System.
 This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the above- referenced securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.
 -0- 11/18/93
 /CONTACT: Bradley J. Stinn or John G. Call of Friedman's Inc., 912-233-9333/
 (FRDM)


CO: Friedman's Inc. ST: Georgia IN: REA SU: OFR

BR-BN -- AT003 -- 5950 11/18/93 10:46 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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