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ALL AMERICAN COMMUNICATIONS INC. ANNOUNCES FILING OF REGISTRATION STATEMENT ON 4,000,000 NEW COMMON SHARES AND 1-FOR-4 REVERSE STOCK SPLIT

 ALL AMERICAN COMMUNICATIONS INC. ANNOUNCES FILING OF REGISTRATION STATEMENT ON 4,000,000 NEW COMMON SHARES AND 1-FOR-4 REVERSE STOCK SPLIT
 SANTA MONICA, Calif., Jan. 28 /PRNewswire/ -- All American Communications Inc. (NASDAQ: AACI) today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission covering the proposed issuance by All American of 4,000,000 new shares of common stock and up to 600,000 additional shares to cover underwriter over-allotments. Seidler Amdec Securities Inc. of Los Angeles will act as underwriter of the proposed offering. The company currently has 20,814,529 shares of common stock outstanding.
 All American further announced that it intends to effect a 1-for-4 reverse stock split, to be effective prior to the consummation of the proposed public offering, subject to shareholder approval. The company announced that it will be calling a special meeting of shareholders, which is preliminarily scheduled for late in February 1992, to consider the reverse split and certain other matters and that shareholders of record on Feb. 6, 1992, will be entitled to vote at the meeting. Following the split, AACI will have approximately 5,203,000 shares of common stock outstanding. Assuming the issuance of all shares in the proposed offering, the number of outstanding shares of common stock would increase to approximately 6,354,000.
 All American Communications Inc. is a diversified entertainment company with operations primarily in television production and distribution, recorded music production and distribution and motion picture production. All American produces and distributes various television programming, including the series "Baywatch," and recently entered into an asset purchase agreement with LBS Communications Inc. for the acquisition by All American of substantially all of the programming, advertiser and television commitments of LBS.
 A registration statement relating to the common stock proposed to be offered has been filed with the Securities and Exchange Commission but has not yet become effective. These shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these shares 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- 1/28/92
 /CONTACT: Thomas Bradshaw, CFO of All American Communications, 310-450-3193; or Arthur E. Rockwell, CFA-Rockwell Communications, 818-559-1496, for All American Communications/
 (AACI) CO: All American Communications Inc. ST: California IN: ENT SU: OFR


CH -- LA013 -- 4115 01/28/92 09:53 EST
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Date:Jan 28, 1992
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