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ROYAL OPTICAL COMPLETES RESTRUCTURE

 DALLAS, July 20 /PRNewswire/ -- Royal International Optical Inc. (NASDAQ: RIOC) announced that it completed its financial restructure, including the reduction of its senior indebtedness, effective March 31, 1993.
 The restructure provides that the company's secured debt is reduced to $20 million, and its outstanding preferred stock is reduced to $20 million. In addition, the company has issued to its senior lender approximately 6,300,000 shares which, together with warrants held by the lender, increases its fully diluted ownership to 74 percent, with the balance of the equity held by present shareholders and management. The restructure, effective as of March 31, 1993, will stabilize the company's balance sheet and provide adequate liquidity for continuing operations.
 William A. Schwartz Jr., president of Royal, indicated "despite the difficult retail environment in the optical industry, Royal has successfully completed a complete financial restructuring which will substantially strengthen its balance sheet, provide adequate working capital, and create the foundation for profitable and expanding operations."
 The completion of the restructuring has delayed the company's announcement of 1993 fiscal year-end results and the filing of its annual report on Form 10-K with the Securities and Exchange Commission. The announcement of the company's year-end results and filing of its Form 10-K are in the process of being completed.
 Royal International Optical operates approximately 750 retail stores in 40 states, including licensed departments in national department store chains.
 -0- 7/20/93
 /CONTACT: George E. McHenry Jr., chief financial officer of Royal International Optical Inc., 214-638-1397/
 (RIOC)


CO: Royal International Optical Inc. ST: Texas IN: REA SU: RCN

LD -- NY122 -- 3665 07/20/93 18:50 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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