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GRUPO GIGANTE LAUNCHES ITS FIRST EURO-COMMERCIAL PAPER PROGRAM

 MEXICO CITY, Sept. 28 /PRNewswire/ -- Grupo Gigante, S.A. de C.V., one of Mexico's largest retailers, announced today that it has launched a US$150 million Euro-Commercial Paper Program and has appointed Citibank International plc and Citicorp Securities Inc. as dealers under the program.
 This Euro-Commercial Paper Program marks the first time Grupo Gigante has utilized international debt markets. The new program will allow Grupo Gigante to expand its funding base and reduce its overall interest expanse. Proceeds from the sale of the paper will be used to reduce existing short-term indebtedness and for general corporate purposes. A first issue of US$40 million was placed under the program today.
 Grupo Gigante, S.A. de C.V., is one of Mexico's largest retailers. As of June 30, 1993, the company operated a network of 150 food and general merchandise stores under the "Gigante" name in 31 cities in Mexico, 30 Bodega Gigante stores, 26 Cafeterias Toks family-style restaurants and five specialty restaurants. The company also operated two SuperMart stores through its subsidiary Gigante-Fleming, and 31 Radio Shack Mexico stores through its joint venture with Tandy International Corporation. Total sales for the company in 1992 reached US$1.9 billion.
 -0- 9/28/93
 /CONTACT: Juan Carlos Mateos of Grupo Gigante, 011-525-724-8369, or John McInerney of Dewe Rogerson, 212-688-6840/


CO: Grupo Gigante, S.A. de C.V. ST: IN: REA SU:

WB-TW -- NY047 -- 6338 09/28/93 11:28 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
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