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HAMPTON INDUSTRIES, INC. ANNOUNCES NEW BANK CREDIT AGREEMENT

 KINSTON, N.C., Sept. 21 /PRNewswire/ -- Hampton Industries, Inc. (AMEX: HAI) announced the execution of a new bank credit agreement with Wachovia Bank of North Carolina, N.A., NationsBank of North Carolina, N.A. and National Westminster Bank USA, its existing senior lenders, for a period ending July 2, 1995. The agreement provides for seasonably adjusted amounts of credit peaking at $94,500,000.
 The agreement contains covenants with respect to borrowings, working capital, tangible net worth, interest coverage, leverage, cash flow and capital expenditures. Borrowings are secured by accounts receivable of the company and its subsidiaries and the import inventory of one of its subsidiaries. It also prohibits the payment of cash dividends.
 -0- 9/21/93
 /CONTACT: Robert J. Stiehl Jr., Vice President-Finance of Hampton Industries, 919-527-8011/
 (HAI)


CO: Hampton Industries, Inc. ST: North Carolina IN: TEX SU:

MM -- CH010 -- 4278 09/21/93 15:15 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
Words:149
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