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JEAN PHILIPPE FRAGRANCES, INC. ANNOUNCES CLOSING ON $7 MILLION UNSECURED LINE OF CREDIT

 JEAN PHILIPPE FRAGRANCES, INC. ANNOUNCES CLOSING ON $7 MILLION
 UNSECURED LINE OF CREDIT
 NEW YORK, Oct. 27 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN) announced today that it has negotiated and closed on a $7 million unsecured revolving line of credit with Republic National Bank of New York. Borrowings under the line bear interest at .25 percent above the bank's prime rate. The new line replaces the previously existing $3 million secured line of credit.
 Jean Madar, the president and chief executive officer, stated: "The company is pleased to have the support of Republic National Bank of New York in providing the necessary financial support to assist the company's expanding operations and continued growth plans."
 Jean Philippe Fragrances produces and distributes fragrances in three markets: domestic and international licensed fragrances, alternative designer fragrances in North and South America and moderately priced fragrances, internationally.
 -0- 10/27/92
 /CONTACT: Russell Greenberg of Jean Philippe Fragrances, Inc., 212-983-2640/
 (JEAN) CO: Jean Philippe Fragrances, Inc. ST: New York IN: HOU SU: FNC


CK-OS -- NY074 -- 5436 10/27/92 13:05 EST
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Publication:PR Newswire
Date:Oct 27, 1992
Words:178
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