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INTERTAN ANNOUNCES PRIVATE PLACEMENT OF SPECIAL WARRANTS

 BARRIE, Ontario, Sept. 30 /PRNewswire/ -- InterTAN Inc. (NYSE: ITN) is pleased to announce that it has closed the previously announced private placement of Cdn$60 million of special warrants. The special warrants are exchangeable, at no additional consideration, into an equivalent principal amount of 9 percent subordinated convertible debentures which will mature on Aug. 30, 2000. The debentures are convertible into common shares of the company at a price of approximately Cdn$8.42 (US$6.40), per share, being 118.731 common shares for each $1,000 principal amount of convertible debentures.
 Proceeds from the special warrant offering have been placed in escrow pending satisfaction of the following conditions on or before Nov. 30, 1993: a) the issuance of the receipts from applicable Canadian Securities Regulatory Authorities for a final prospectus qualifying the convertible debentures and underlying common shares; b) establishment of at least Cdn$30 million of operating bank lines by Oct. 15, 1993; and c) finalization of supply and licensing agreements with Tandy Corporation.
 InterTAN is pleased to announce that the preliminary prospectus was filed on Sept. 24, 1993, and that the company has received a commitment for the required operating bank lines from a Canadian bank subject to final documentation. Terms and conditions for the Tandy supply and licensing agreements have been agreed upon and documentation is currently being completed.
 -0- 9/30/93
 /CONTACT: Keith H. Wettlaufer, senior vice president, finance and administration of InterTAN, 705-739-6268/
 (ITN)


CO: InterTAN Inc. ST: Ontario IN: CPR SU:

LG-PS -- NY013 -- 7107 09/30/93 08:14 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
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