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BIG B, INC. ANNOUNCES EFFECTIVENESS OF REGISTRATION OF CONVERTIBLE SUBORDINATED DEBENTURES

 BESSEMER, Ala., March 25 /PRNewswire/ -- Big B, Inc. (NASDAQ: BIGB) announced that its offering of $35 million principal amount of its 6-1/2 percent Convertible Subordinated Debentures due 2003 was priced at par.
 The debentures are convertible into Big B common stock at a conversion price of $24.40 per share. The company has agreed to sell up to an additional $5,250,000 of the debentures upon exercise of an overallotment option by the underwriter. The net proceeds of the offering will be used to reduce existing bank debt, to fund the company's recently announced planned acquisition of 45 "Treasury Drug" stores in Georgia and the cost of converting those stores to the "Big B" format, and to fund the enhancement of the company's point-of-sale system. The debentures are rated B2 by Moody's Investors Service, Inc. and B by Standard & Poor's Corp.
 Big B, Inc. currently operates over 300 drug stores in the five states of Alabama, Georgia, Florida, Mississippi and Tennessee.
 The debentures are being offered by Morgan Keegan & Company, Inc. Copies of the prospectus may be obtained from Morgan Keegan & Company, Inc., 50 N. Front St., Memphis, TN 38103; Attn: Syndicate Department.
 -0- 3/25/93
 /CONTACT: Arthur M. Jones Sr. of Big B, 205-424-3421, ext. 202/
 (BIGB)


CO: Big B, Inc. ST: Alabama IN: REA SU: OFR

BN-BR -- AT002 -- 9412 03/25/93 09:08 EST
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Publication:PR Newswire
Date:Mar 25, 1993
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