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DAMARK INTERNATIONAL ANNOUNCES INITIAL PUBLIC OFFERING FILING

 DAMARK INTERNATIONAL ANNOUNCES INITIAL PUBLIC OFFERING FILING
 MINNEAPOLIS, Jan. 22 /PRNewswire/ -- DAMARK International, Inc. announced today it has filed with the Securities and Exchange Commission a registration statement for an initial public offering of 2,724,000 shares of common stock, including 2,100,000 shares by DAMARK and 624,000 shares by selling shareholders. The lead underwriters will be Montgomery Securities; Donaldson Lufkin & Jenrette Securities Corporation; and Wessels, Arnold & Henderson. The company will use net proceeds from the offering to repay indebtedness and for working capital and other general corporate purposes to support DAMARK's growth through increased catalog mailings, expansion of customer lists and expansion of systems and facilities.
 DAMARK is a leading national direct marketer of brand name and other quality general merchandise at value-oriented prices. DAMARK, which began operations in 1986, generated $217.5 million in net sales and $6.2 million in operating income in 1991.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 A copy of the preliminary prospectus relating to these securities may be obtained from either Montgomery Securities, 600 Montgomery Street, San Francisco, Calif., 94111; Donaldson Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, New York 10005; or Wessels, Arnold & Henderson, 901 Marquette Avenue, Minneapolis, Minn., 55402.
 -0- 1/22/92
 /CONTACT: James E. Tuller of DAMARK International, 612-531-0066, or John Mackay of Padilla Speer Beardsley, 612-871-8877, for DAMARK International/ CO: DAMARK International ST: Minnesota IN: SU: OFR


AL -- MN012 -- 2404 01/22/92 14:44 EST
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Publication:PR Newswire
Date:Jan 22, 1992
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