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LOWE'S TO ISSUE CONVERTIBLE SUBORDINATED NOTES

 NORTH WILKESBORO, N.C., June 16 /PRNewswire/ -- Lowe's Companies, Inc. (NYSE: LOW) filed today with the Securities and Exchange Commission a Registration Statement for the issuance of $250 million of Convertible Subordinated Notes due 2003. The Notes are convertible into Lowe's Companies, Inc. common stock.
 Proceeds from the sale of the Notes, after giving effect to an original issue discount, are expected to be approximately $225 million and will be used for funding the company's store expansion program, to repay short-term indebtedness, and for general corporate purposes. This offering is expected to be made during the week of June 28, 1993.
 Merrill Lynch & Co. and Montgomery Securities will be the underwriters.
 Lowe's is a specialty retailer of building materials and related product of the do-it-yourself home improvement, home decor, and home construction, repair and remodeling markets. Lowe's operates 301 retail stores with more than 10.0 million square feet of retail sales space in 20 states located principally in the South Atlantic and South Central regions of the United States.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 -0- 6/16/93
 /CONTACT: (Corporate contacts) W. Cliff Oxford or Clarissa S. Felts, Lowe's Companies, Inc., 919-651-4631 or 919-651-4254/
 (LOW)


CO: Lowe's Companies, Inc. ST: North Carolina IN: REA SU: OFR

MM -- CH006 -- 2818 06/16/93 17:50 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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