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AVON EXTENDS TENDER OFFER FOR JAPANESE SUBSIDIARY'S SHARES

 AVON EXTENDS TENDER OFFER FOR JAPANESE SUBSIDIARY'S SHARES
 NEW YORK, Oct. 8 /PRNewswire/ -- Avon Products Inc. ("API") (NYSE: AVP) today announced that it is extending the expiration date of its tender offer for Avon Japan stock until Oct. 22.
 API, which owns 60 percent of its Japanese subsidiary, announced a tender offer for up to 20 million of Avon Japan's shares in September. The tender offer was to expire on Oct. 13.
 The company said that the offer is being extended to allow the Avon Japan employees stock ownership plan (ESOP) to be amended so that ESOP members holding shares in lots of 500 can aggregate and tender their shares in standard 1,000 share lots.
 The tender offer is being made in Japan by two of API's wholly-owned subsidiaries: Avon International Operations Inc. and Avon Beauty Products K.K. The tender price is set at 560 yen per share.
 Avon Products Inc. is the world's leading direct seller and marketer of beauty and related products with $3.6 billion in annual revenues. Avon markets its products to women in more than 100 countries and began selling in Japan in 1969. Avon Japan, which has been publicly traded since 1987, employs about 1,900 and has a manufacturing and distribution facility at Atsugi and headquarters in Tokyo. Avon Japan had sales of more than $303 million in 1991.
 Copies of the tender offer are available through The Nomura Securities Co., Ltd., which is acting as Avon's agent for this tender offer.
 -0- 10/8/92
 /CONTACT: Mary A. Taylor, 212-546-6341, or Elaine Benvenuto, 212-546-6058, both of Avon/
 (AVP) CO: Avon Products Inc. ST: New York IN: HOU SU: TNM


GK -- NY012 -- 0281 10/08/92 09:04 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
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