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BROWN-FORMAN OFFERS TO BUY UP TO 4,200,000 SHARES OF ITS COMMON STOCK

 LOUISVILLE, Ky., Dec. 13 /PRNewsiwre/ -- Brown-Forman Corporation (NYSE: BF.A BF.B) announced today that it will offer to buy up to 4,200,000 shares of its common stock in a Dutch auction tender offer at a price within the range of $83 to $90 per share. Later this week, shareholders of Brown-Forman's Class A and Class B common stock will be invited to choose a price at which they are willing to sell their shares to the company, within the range of $83 and $90 per share. The company will then select a single purchase price that will allow it to buy up to 700,000 shares of Class A stock and a single purchase price that will allow it to buy up to 3,500,000 shares of Class B stock. The company will then buy all shares tendered at or below the selected price for each class of stock.
 Owsley Brown II, Brown-Forman's president and chief executive officer, stated that the company is making the tender offer because its Board of Directors believes that the purchase of shares pursuant to the offer constitutes a prudent use of the company's financial resources.
 Morgan Stanley & Co., Incorporated, will act as dealer manager for the offer.
 Brown-Forman Corporation is a diversified producer and marketer of fine quality consumer products, including Jack Daniel's Tennessee Whiskey, Canadian Mist, Southern Comfort, Korbel California Champagnes, Fetzer Vineyard California Wines, Lenox China and Crystal, Dansk International Designs, Gorham Silver, Crystal, and China, and Hartmann Luggage.
 -0- 12/13/93
 /CONTACT: Larry Probus, Vice President-Corporate Development, of Brown-Forman, 502-774-7441/
 (BF)


CO: Brown-Forman Corporation ST: Kentucky IN: FOD SU:

CM -- CH009 -- 3303 12/13/93 16:30 EST
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Publication:PR Newswire
Date:Dec 13, 1993
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