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GROW GROUP REPURCHASES PORTIONS OF EQUITY BLOCK AND DEBENTURES; RESTRUCTURING PROGRAM ON PLAN

 GROW GROUP REPURCHASES PORTIONS OF EQUITY BLOCK AND DEBENTURES;
 RESTRUCTURING PROGRAM ON PLAN
 NEW YORK, Jan. 9 /PRNewswire/ -- Grow Group, Inc. (NYSE: GRO) reported today that it has repurchased 100,000 shares of stock which was part of a 276,200-share block of Grow Group, Inc. stock through Morgan Stanley from Jack Hunter, a member of a group that had previously filed a Scheduled 13D.
 The balance of the block was purchased by LL Capital Partners, acting as principal, and Hermitage Capital Corp., acting as agents. The transaction was accomplished after the Jan. 8 New York Stock Exchange close on the Tokyo Stock Exchange at a price of 9-1/4.
 Russell Banks, president, reported, "In addition to participating in this purchase, the company also purchased late in December $2.5 million of its 12-1/2 percent senior subordinated debentures at $98-1/2. The company's ability to make these repurchases demonstrates the strength of its restructuring program which continues according to plan."
 Grow Group is one of the world's leading producers of specialty chemical coatings and paints. Grow operations include manufacturing facilities, sales offices and licensees throughout the world.
 -0- 1/9/92
 /CONTACT: Russell Banks, president of Grow Group, 212-599-4400, or Jennifer R. Wall or Marisa Heine of D.F. King & Co., 212-269-5550, for Grow Group/
 (GRO) CO: Grow Group, Inc. ST: New York IN: CHM SU:


CK-OS -- NY074 -- 8368 01/09/92 16:03 EST
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Publication:PR Newswire
Date:Jan 9, 1992
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