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LCI INTERNATIONAL COMPLETES $100 MILLION PREFERRED STOCK OFFERING

 McLEAN, Va., Aug. 18 /PRNewswire/ -- LCI International, Inc. (NASDAQ-NMS: LCII) announced today that it completed its offering of 5 percent Cumulative Convertible Exchangeable Preferred Stock. The offering size was increased from $75 million to $100 million. In addition, the company granted the underwriters a 30-day option to purchase an additional 600,000 shares to cover over-allotments.
 The security was issued at $25 per share and is convertible to common stock at a price of $38 per share. The new security is listed on the NASDAQ-NMS under the symbol "LCIIP."
 Underwriters of the issue were Bear, Stearns & Co. Inc., Merrill Lynch & Co., The Robinson-Humphrey Company, Inc. and Jefferies & Company, Inc.
 "We were extremely pleased with the market's response to our preferred stock offering," said H. Brian Thompson, LCI's chairman. "The proceeds will allow us to repay certain indebtedness and provide funds for working capital and other purposes, including strategic acquisitions for the company."
 The company announced last week that they have signed letters of intent to acquire an interest in STN Incorporated of Toronto, a Canadian long-distance reseller with options to acquire a larger portion of the company at a later date; and also entered into a non-binding agreement with Teledial America of North Carolina, Inc., a closely held reseller that operates in North Carolina, South Carolina, Georgia and Tennessee, to purchase substantially all of its assets and assume substantially all of its liabilities.
 LCI International is a publicly held, worldwide, facilities-based telecommunications company that provides to its business and residential customers a full array of voice, data and video transmission services through its fiber-optic network. LCI International, Inc., with headquarters in McLean, Va., has its operational subsidiaries headquartered in Dublin, Ohio.
 -0- 8/18/93
 /CONTACT: Jim Fette of LCI International, 614-798-6272, or LCI Investor Relations, 800-861-5244/
 (LCII)


CO: LCI International, Inc. ST: Ohio IN: TLS SU: OFR

BM -- CL024 -- 4027 08/18/93 15:55 EDT
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Publication:PR Newswire
Date:Aug 18, 1993
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