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FACTORY STORES OF AMERICA PLANS INITIAL PUBLIC OFFERING

 SMITHFIELD, N.C., April 12 /PRNewswire/ -- Factory Stores of America, formed to own and manage factory outlet centers, has filed a registration statement with the Securities and Exchange Commission relating to an initial public offering of 5.3 million shares of common stock. The initial public offering price is anticipated to be between $21 and $23 per share. The company, which intends to qualify as a real estate investment trust, will have an initial portfolio consisting of 25 factory outlet centers located in 15 states throughout the Southeast, the Midwest and the Southwest.
 The lead managing underwriter of the offering is Smith Barney, Harris Upham & Co., and the other co-managing underwriters are Prudential Securities, The Robinson-Humphrey Company and McDonald & Company Securities. For a copy of a prospectus subject to completion, contact Smith Barney, Harris Upham & Co., 110 Wall Street, New York, N.Y. 10005.
 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 to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by 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.
 -0- 4/12/93
 /CONTACT: Dixon Fleming or David Hodson, 919-934-9446, both of Factory Stores of America/


CO: Factory Stores of America ST: North Carolina IN: REA SU: OFR

SB -- CH002 -- 4908 04/12/93 16:45 EDT
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Publication:PR Newswire
Date:Apr 12, 1993
Words:278
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