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AILEEN ANNOUNCES AGREEMENT WITH NATIONSBANK OF VIRGINIA

 NEW YORK, Nov. 1 /PRNewswire/ -- Aileen, Inc. (NYSE: AEE), a manufacturer and retailer of women's apparel, today reported that the company has entered into an agreement with NationsBank of Virginia, its institutional lender, providing for the company and the bank to begin negotiating a restructuring of the company's $4 million unsecured revolving credit line and its outstanding $760,000 secured term notes. The bank had previously waived certain financial covenant defaults which existed as of July 31, 1993, subject to the delivery of acceptable collateral and agreement on revised covenants by Oct. 31, 19993. The new agreement does not extend the Oct. 31 deadline while the company and the bank are negotiating.
 Commenting upon the recent increase in the market price and trading volume of the company's common stock, a company spokesperson confirmed that management is unaware of any corporate development that would account for this activity.
 -0- 11/1/93
 /CONTACT: Steve Delman of Aileen, 212-398-9770/
 (AEE)


CO: Aileen, Inc.; NationsBank of Virginia ST: New York, Virginia IN: TEX SU: FNC

CK-WB -- NY089 -- 9366 11/01/93 17:37 EST
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Publication:PR Newswire
Date:Nov 1, 1993
Words:181
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