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Hollywood Entertainment Corporation Announces Filing Of Registration Statement For Proposed Public Equity Offering

PORTLAND, Ore., Nov. 22 /PRNewswire/ -- Hollywood Entertainment Corporation (Nasdaq: HLYW) announced today that it had filed a registration statement with the Securities and Exchange Commission relating to the proposed public offering of 2,000,000 shares of Common Stock to be sold by the Company. Following the offering, there will be approximately 35,950,000 shares of the Company's Common Stock outstanding. The Company will use the proceeds of the offering to repay indebtedness, to fund expansion and for working capital and other general corporate purposes. Montgomery Securities and Donaldson, Lufkin & Jenrette Securities Corporation will act as the managing underwriters for the offering.

Hollywood Entertainment Corporation owns and operates 470 video retail superstores in 29 states and is the second largest video retailer in the United States as measured by sales.

Copies of the preliminary prospectus can be obtained from the offices of Montgomery Securities, 600 Montgomery Street, San Francisco, California, 94111 and Donaldson, Lufkin & Jenrette Securities Corporation, 277 Park Avenue, New York, New York, 10172.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such State.

SOURCE Hollywood Entertainment Corp.
 -0- 11/22/96


/CONTACT: Doug Gordon of Hollywood Entertainment Corp., 503-570-1600/

/Hollywood Entertainment press releases available through Company News On-Call by fax, 800-758-5804, ext. 417357, or at http://www.prnewswire.com/

(HLYW)

CO: Hollywood Entertainment Corp. ST: Oregon IN: REA SU:

GZ-RN -- SFF009 -- 5677 11/22/96 08:30 EST http://www.prnewswire.com
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Publication:PR Newswire
Date:Nov 22, 1996
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