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DOLLAR TIME GROUP, INC. DEBENTURE OFFER OVERSOLD/TENFOLD INCREASE IN LINE OF CREDIT

 MIAMI, March 4 /PRNewswire/ -- Dollar Time Group, Inc. (NASDAQ: DLRT) today reported the successful completion of a $5 million debenture offering through Gruntal & Co., Inc. An additional $750,000 of debentures were sold as a result of the over allotment option.
 The 9 percent convertible subordinated debentures are due five years from the date of issuance with interest payable semi-annually. The debentures are callable by the company for a four-year period commencing one year from the date of issuance and are convertible at any time into common stock of the company at a price of $2.50 per share. The company will use the net proceeds from the sale of the debentures to open additional retail stores and for inventory and working capital.
 In addition, the company has obtained a $1.5 working capital line of credit from Sterling National Bank & Trust Company of New York. This represents a ten fold increase from the company's former line of credit.
 William F. McConnell, chairman of the company stated, "This increase will assist Dollar Time in its planned expansion during the balance of calendar year 1993.
 Dollar Time Group, Inc., a leading operator of retail close-out variety stores where all items are priced at one dollar, operates 35 retail locations in 12 states. The company's stores offer a constantly changing variety of brand name and generic products, including health and beauty aids, toys, housewares, jewelry, books, candy and snacks, hardware, stationery, novelties and pet supplies.
 -0- 3/4/93
 /CONTACT: Gary Kaminsky of Dollar Time Group, Inc., 305-770-0605/
 (DLRT)


CO: Dollar Time Group, Inc. ST: Florida IN: REA SU: OFR

JB-AW -- FL009 -- 3049 03/04/93 13:50 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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