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HOME DEPOT ANNOUNCES NOTE OFFERING

 HOME DEPOT ANNOUNCES NOTE OFFERING
 ATLANTA, Jan. 24 /PRNewswire/ -- The Home Depot, Inc. (NYSE: HD)


announced today the public offering of $700 million of its 4-1/2 percent convertible subordinated notes due Feb. 15, 1997, at 100 percent of their principal amount. The notes are convertible into shares of common stock of the company at any time prior to maturity, unless previously redeemed, at a conversion price of $77.50 per share, subject to adjustment under certain conditions. The notes will be redeemable in whole or in part for the twelve month period beginning March 3, 1995 and ending on Feb. 14, 1996 at 101.125 percent of their principal amount and thereafter at 100 percent of their principal amount. The company and Home Depot U.S.A., Inc. have granted the underwriters an option to purchase up to an additional $105 million of notes to cover over- allotments, if any.
 The First Boston Corporation and Invemed Associates, Inc. are the co-underwriters of the offering.
 The net proceeds from the sale of notes will be used principally to finance a portion of the company's capital expenditure programs over the next several years, including planned store expansion and renovations, and for general corporate purposes.
 The Home Depot is a leading retailer in the growing home center industry. It operates "Do-It-Yourself Warehouse" stores which sell a wide assortment of building materials and home improvement products. The company's three operating divisions -- Western, Southeast and Northeast -- have 174 stores, ranging in size from 68,000 to 140,000 square feet of enclosed space. The Home Depot currently operates stores in 15 states, with approximately 75 percent of its locations concentrated in California, Georgia, Texas and Florida.
 -0- 1/24/92
 /CONTACT: Ronald Brill, senior vice president and CFO, 404-431-2727, or Lonnie Fogel, 404-431-2666, both of Home Depot/
 (HD) CO: Home Depot Inc. ST: Georgia IN: HOU SU: OFR


TS -- NY024 -- 3169 01/24/92 09:55 EST
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Date:Jan 24, 1992
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