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ALLOU HEALTH & BEAUTY CARE ANNOUNCES INCREASE IN REVOLVING CREDIT LINE

 BRENTWOOD, N.Y., Aug. 2 /PRNewswire/ -- Allou Health & Beauty Care, Inc. (AMEX: ALU) today announced that agreement has been reached between Allou and the Bank of Boston and its participants increasing Allou's credit line 33 percent to $60 million. The highly favorable borrowing rate of 3/8 of 1 percent above prime will continue under this increased credit line, which is subject to completion of final documentation.
 David Shamilzadeh, chief financial officer of Allou, stated, "This increase clearly indicates our financial institutions' confidence in our ability to continue to experience solid growth over the foreseeable future."
 The increased line of credit further enhances Allou's position to improve inventory levels of its prestige designer fragrances and prescription pharmaceuticals resulting from its acquisition of M. Sobol, Inc., as well as strengthening its distribution of nationally advertised non-perishable branded food products.
 Recently, Allou reported fiscal year end revenues of $161.9 million resulting in a 61 percent increase in net income which totaled $3,015,350 (or a fully diluted 60 cents per share) when compared to the same period last year. The company operates on a March 31 fiscal year.
 Allou Health & Beauty Care, Inc. is the premier distributor of over 8,000 nationally advertised health and beauty aid products in the Northeast and Miami areas. In addition, the company is a leading nationwide distributor of over 7,000 prestige designer fragrances and cosmetics. The company also distributes nationally advertised non- perishable branded food items. Most recently, Allou has become a direct manufacturers' distributor of prescription pharmaceuticals. Allou's account base consists of 3,700 independent drug and convenience stores, including the leading national chain stores.
 -0- 8/2/93
 /CONTACT: David Shamilzadeh, senior vice president and chief financial officer of Allou Health & Beauty Care, Inc., 516-273-4000/
 (ALU)


CO: Allou Health & Beauty Care, Inc. ST: New York IN: HOU SU:

MP-OS -- NYM001 -- 8144 08/02/93 08:00 EDT
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Publication:PR Newswire
Date:Aug 2, 1993
Words:316
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