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BEN FRANKLIN COMMENCES INITIAL PUBLIC OFFERING

 BEN FRANKLIN COMMENCES INITIAL PUBLIC OFFERING
 CAROL STREAM, Ill., April 28 /PRNewswire/ -- Ben Franklin Retail


Stores, Inc. today announced that it has commenced its initial public offering of 1.8 million shares. The Securities and Exchange Commission declared effective the registration statement for the offering, which represents 33 percent of the common stock of Ben Franklin. The initial offering price was $5.00 per share. The stock is being offered by the company's parent corporation, National Intergroup, Inc., which will continue to own 67 percent of Ben Franklin.
 Ben Franklin common stock will trade on the NASDAQ National Market System under the symbol BFRS.
 Ben Franklin is a national distributor of variety and craft merchandise, and a franchisor of 739 variety stores and 225 craft stores in 47 states. These include nine Ben Franklin Crafts "superstore" franchises and four company-owned superstores, which feature approximately 15,000 square feet of selling space.
 Net proceeds of the offering will go to National Intergroup for general corporate purposes.
 Whale Securities Co., L.P. is underwriter for the offering. A prospectus relating to the offering may be obtained from Whale Securities, 650 Fifth Avenue, New York, NY 10019, 212-484-2000. This announcement is neither an offer to sell nor the solicitation of an offer to buy any of the securities. The offer is made only by the prospectus. Copies of the prospectus may be obtained in any state in which this announcement is circulated only from Whale Securities or such other dealers or brokers as may legally offer these securities in such state.
 Ben Franklin is headquartered in Carol Stream, Ill. National Intergroup is headquartered in Dallas, and is also the parent company of FoxMeyer Corporation, the nation's third largest drug distributor.
 -0- 4/28/92
 /CONTACT: John Menzer of Ben Franklin Retail Stores, 708-462-6312/
 (BFRS NII) CO: Ben Franklin Retail Stores, Inc.; National Intergroup ST: Illinois, Texas IN: REA SU: OFR


KD -- NY135 -- 4030 04/28/92 17:04 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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