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SHOE CARNIVAL, INC. OVER-ALLOTMENT OPTION EXERCISED

 EVANSVILLE, Ind., Dec. 8 /PRNewswire/ -- Shoe Carnival, Inc. (NASDAQ: SCVL) today announced that McDonald & Company Securities, Inc. and The Robinson-Humphrey Company, Inc. exercised the option for the purchase of 393,000 shares of its common stock to cover over-allotments in connection with the company's recent public offering which began trading on Nov. 17, 1993. Including the shares issued as a result of this option, the offering consisted of 1,893,000 shares offered by the company and 1,120,000 shares offered by certain of the company's shareholders.
 The net proceeds from this offering will be used to repay indebtedness under the company's line of credit, to fund the opening of new stores and the expansion of the company's headquarters and distribution facility, and to provide working capital.
 Shoe Carnival, Inc. is a high volume, value oriented retailer of family footwear currently operating a chain of 57 stores in 15 states predominately in the Midwest and Midsouth.
 This press release shall not constitute an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
 A prospectus relating to these securities may be obtained from McDonald & Company Securities, Inc., 800 Superior Ave., Suite 2100, Cleveland, OH 44114, 216-443-2370, or The Robinson-Humphrey Company, Inc., Atlanta Financial Center, South Tower-10th Floor, 3333 Peachtree Rd. N.E., Atlanta, GA 30326, 404-266-6450.
 -0- 12/8/93
 /CONTACT: Mark L. Lemond, executive vice president and chief financial officer, of Shoe Carnival, Inc., 812-867-4034/
 (SCVL)


CO: Shoe Carnival, Inc. ST: Indiana IN: REA SU: OFR

KL -- CL006 -- 1695 12/08/93 10:44 EST
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Publication:PR Newswire
Date:Dec 8, 1993
Words:289
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