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HOOK-SUPERX, INC. ANNOUNCES SIGNING OF AMENDED BANK CREDIT AGREEMENT

 CINCINNATI, July 30 /PRNewswire/ -- Hook-SupeRx, Inc. ("HSI" or the "company") (NYSE: HSX) today announced the signing of an amendment to i ?Bank Credit Agreement.
 The Third Amended and Restated Credit Agreement, dated as of July 29, 1993 (the "Third Amendment") amends and restates the terms and conditions of the existing Bank Credit Agreement to reduce the company's annual principal payment requirements while extending the average remaining term of the agreement and to revise certain of the current loan covenants. The Third Amendment also permits the company to implement a program to sell its health care receivables and provides for a $50 million Bridge revolving line of credit, pending implementation of the accounts receivable program or Feb. 28, 1994 (or such later date to which the Bridge revolving line of credit may be extended). If implemented, the accounts receivable program (which is expected to have an initial four year team) would allow the company to sell on a continuous basis approximately $50 million or more of its health care receivables, the proceeds of which will be applied to reduce any borrowings under the Bank Credit Agreement revolving lines of credit. The company has received a commitment letter from the Chase Manhattan Bank (National Association), which also acts as the agent bank under the Bank Credit Agreement, with respect to the accounts receivable program and is presently negotiating the terms of a definitive agreement.
 The revised debt structure under the Third Amendment includes a $20 million increase in the term loan commitment, with a corresponding $20 million reduction in the existing revolving credit facility.
 HSI operates the sixth largest retail drug chain in the United States in terms of store count. At May 31, 1993, HSI operated 1,159 drug stores and 34 home health care centers primarily in the Midwestern and Northeastern regions of the United States.
 -0- 7/30/93
 /CONTACT: Keith A. Cheesman, 513-782-3573, or Chris Beseler, 513-782-3115, both of Hook-SupeRx, Inc./
 (HSX)


CO: Hook-SupeRx, Inc. ST: Ohio IN: REA U?: FNC

BM -- CL014 -- 7858 07/30/93 15:26 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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