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GENERAL NUTRITION COMPANIES, INC. ANNOUNCES FILING OF REGISTRATION STATEMENT FOR OFFERING OF 1,350,000 SHARES OF COMMON STOCK

 PITTSBURGH, June 7 /PRNewswire/ -- General Nutrition Companies, Inc. (NASDAQ: GNCI) has announced that it filed a registration statement with the Securities and Exchange Commission for a proposed offering of 1,350,000 shares of common stock.
 All of the common stock is being offered by General Nutrition Companies, Inc., the parent of General Nutrition Incorporated (GNI).
 Morgan Stanley & Co. Incorporated, Donaldson, Lufkin & Jenrette Securities Corporation and Paine Webber Incorporated will co-manage the underwriting group. The company will grant the U.S. underwriters an over-allotment option to purchase an additional 202,500 shares.
 General Nutrition Companies, Inc. intends to use approximately $38.5 million of the net proceeds from the sale of the common stock to redeem $35 million principal amount of GNI's 11-3/8 percent senior subordinated notes, which is the maximum allowable under the indenture, at a redemption price equal to 109.953 percent of the principal amount. The remaining proceeds will be used to retire outstanding bank term indebtedness or to repurchase additional senior subordinated notes, if such notes can be obtained at favorable prices.
 General Nutrition Companies, Inc., through its subsidiaries, 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. The company's products are sold through a network of 1,269 retail stores operating under the GNC name, of which 948 are owned and operated by the company at leased locations and 321 are franchised. The stores are located primarily in regional shopping malls in the 50 states, and 14 are located in Puerto Rico, Guam, Peru and Mexico
 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 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.
 /delval/
 -0- 6/7/93
 /CONTACT: Edwin J. Kozlowski, senior vice president & chief financial officer of General Nutrition Companies, 412-288-4661/
 (GNCI)


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

CD-MP -- PG004 -- 5815 06/07/93 08:33 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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