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BOOTH AMERICAN COMPANY COMPLETES PRIVATE PLACEMENT OF $80MM SENIOR NOTES AND SECURES A NEW $22MM REVOLVING LINE OF CREDIT

 DETROIT, Feb. 3 /PRNewswire/ -- Booth American Company has completed the private placement of $80MM of Senior Notes due 2003 with a group of insurance companies. The Notes were given an investment grade rating of 2 from the National Association of Insurance Companies (NAIC) and a BBB-rating from Fitch Investor Services, Inc. The First Boston Corporation acted as agent in the placement of the Notes. Proceeds will be used to reduce bank debt.
 The company has simultaneously secured a new $22MM revolving line of credit from their existing bank group to be used for general corporate purposes. The new line is being provided in addition to an existing term loan supplied by a syndicate of banks led by The Bank of New York.
 Commenting on the two transactions, Ralph H. Booth, president and chief financial officer, stated, "The company has taken these steps to provide it with financial flexibility in a rapidly changing regulatory and technical environment. The host of players competing for access to the subscribers' homes or our radio audience is evolving daily.
 "The industry giants in the telecommunications field are scrambling to form alliances to service the entertainment and communication needs of the interactive home of the future. In combination with internally generated funds, the new financing should provide the company with the necessary resources to respond to opportunities that technology may bring as well as fund acquisitions of strategically located properties. With an investment grade rating, we were able to lock in historically low interest rates on attractive terms and increase our borrowing capacity to respond to the challenges and opportunities that this new era will bring."
 Booth American Company is a diversified electronic media company with headquarters in Detroit. The company operates two divisions in radio broadcasting and cable television including its wholly owned subsidiary Genesis Broadcasting, Inc., which is based in Dallas. The radio group operates 18 stations in the U.S. The domestic cable television division operates nine systems serving approximately 140,000 subscribers in eight states.
 In addition, the company is a major shareholder and co-founder in English Cable Enterprises which is in the process of constructing broadband cable television and telephone service to a contiguous service area of approximately 400,000 homes in the counties of Bedfordshire and Hertfordshire within 30 miles of London, England.
 -0- 2/3/93
 /CONTACT: Ralph H. Booth, president and chief financial officer, Booth American Company, 313-965-3360/


CO: Booth American Company ST: Michigan IN: ENT TLS SU:

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Date:Feb 3, 1993
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