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GENERAL NUTRITION ANNOUNCES CLOSING OF PUBLIC OFFERING OF COMMON STOCK; CALLS FOR REDEMPTION OF SUBSIDIARY'S SENIOR SUBORDINATED NOTES AUG. 20

 PITTSBURGH, July 21 /PRNewswire/ -- General Nutrition Companies, Inc. (NASDAQ: GNCI) announced today that it has closed the public offering of 2,350,000 shares of its common stock at a public offering price of $37 per share. Of the shares offered 1,350,000 shares were sold by the Company and 1,000,000 shares by certain selling shareholders. The offering was made by underwriters led by Morgan Stanley & Co. Incorporated, Donaldson, Lufkin & Jenrette Securities Corporation and PaineWebber Incorporated.
 The company intends to use the net proceeds from the shares sold by it (approximately $46.5 million) principally to redeem $35 million principal amount of its subsidiary's 11-3/8 percent senior subordinated notes due 2000 at a redemption price of 109.953 percent of the principal amount plus accrued and unpaid interest. Notice of redemption was mailed today to registered holders of the notes for redemption on Aug. 20, 1993.
 General Nutrition is the only nationwide specialty retailer of vitamin, mineral and sports nutrition supplements, and is also a leading provider of personal care, fitness and other health- related products.
 -0- 7/21/93
 /CONTACT: Edwin J. Kozlowski of General Nutrition Companies, Inc., 412-288-4661/
 (GNCI)


CO: General Nutrition Companies, Inc. ST: Pennsylvania IN: REA SU: OFR

WB -- NY060 -- 3957 07/21/93 12:50 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 21, 1993
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