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BOSTON CHICKEN COMPLETES SALE OF 2.8 MILLION SHARES OF COMMON STOCK IN IPO AND CONCURRENT PRIVATE PLACEMENT

 NEW YORK, Nov. 9 /PRNewswire/ -- Boston Chicken, Inc. (NASDAQ: BOST) has announced the initial public offering of 1,900,000 shares of common stock and the concurrent private placement of 900,000 shares of common stock, which combined will yield the company an estimated $51,480,000 in net proceeds.
 The initial public offering, priced at $20 per share was led by Merrill Lynch & Co. and Alex. Brown & Sons Incorporated as managing underwriters. The concurrent private placement was sold to the company's senior management at the public offering price, net of the underwriters' discount. The company has granted the underwriters an option to purchase up to an additional 160,000 shares of common stock to cover over-allotments.
 Net proceeds from both offerings will be used to finance the development of additional Boston Chicken stores and repay bank indebtedness utilized for such purpose.
 Boston Chicken, Inc., headquartered in Naperville, Ill., operates and franchises retail outlets that specialize in fresh, convenient, meals featuring rotisserie roasted chicken, vegetables, salads and other side dishes. The company believes that Boston Chicken stores comprise the largest chain in the United States dedicated primarily to rotisserie roasted chicken. The Boston Chicken system currently includes 175 stores located in 16 states. As of Oct. 25, 1993, the company had entered into area development agreements and franchise agreements that provide for the opening of approximately 600 additional stores, the majority of which is scheduled to be opened in the next three years. The company currently estimates that there will be approximately 200 stores system-wide by the end of 1993 and 400 stores by the end of 1994.
 -0- 11/9/93
 /CONTACT: Mark Stephens of Boston Chicken, Inc., 708-955-6100/
 (BOST)


CO: Boston Chicken, Inc. ST: Illinois IN: REA SU: OFR

GK -- NY026R -- 2309 11/09/93 13:37 EST
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Publication:PR Newswire
Date:Nov 9, 1993
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