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THE GNI GROUP FILES OFFERING OF 1,600,000 SHARES

 HOUSTON, Feb. 25 /PRNewswire/ -- The GNI Group, Inc. (NASDAQ: GNUC) announced today the filing of a registration statement with the Securities and Exchange Commission in connection with a public offering of 1,600,000 shares of its common stock. The offering consists of 1,100,000 primary shares and 500,000 shares offered by certain selling stockholders.
 Subject to market conditions and Securities and Exchange Commission effectiveness, The GNI Group expects to complete the offering in late March or early April 1993. The company intends to use the net proceeds to construct certain additions to the company's chemical recovery facility, to reduce its debt and for general corporate purposes. The offering is being managed by Raymond James & Associates, Inc.
 The GNI Group, Inc. provides specialized chemical recovery and processing services and treats and disposes of hazardous and non- hazardous waste and by-product streams. The company's principle services include the recycling and processing of chemicals and related by-products; the disposal by deepwell injection of liquid industrial wastes; and the treatment and final disposal of a variety of waste and by-product streams. Its principle executive offices are located at 2525 Battleground Road, Deer Park, Texas 77536.
 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- 2/25/93
 /CONTACT: Titus H. Harris III, executive VP and CFO of The GNI Group, 713-930-0350, or Pat Hoyt of Hoyt & Associates Investor Relations, 713-665-2549, for The GNI Group/
 (GNUC)


CO: The GNI Group, Inc. ST: Texas IN: SU: OFR

WB -- NY074 -- 0501 02/25/93 15:26 EST
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Publication:PR Newswire
Date:Feb 25, 1993
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