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JEAN PHILIPPE FRAGRANCES, INC. ANNOUNCES RECEIPT OF $4.6 MILLION FROM EXERCISE OF PUBLICLY TRADED WARRANTS

 JEAN PHILIPPE FRAGRANCES, INC. ANNOUNCES RECEIPT OF $4.6 MILLION
 FROM EXERCISE OF PUBLICLY TRADED WARRANTS
 NEW YORK, Sept. 17 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN), announced today that it has received $4,633,650 in proceeds as a result of the exercise of 617,820 of its publicly traded warrants. Expenses incurred in connection with such offering are estimated to be $37,500.
 The warrant exercise proceeds adds further strength to the company's financial condition in that on a pro forma basis it increases working capital to $13,119,889 from $8,523,739 as of June 30, 1992, an increase of 54 percent.
 Jean Madar, the president and chief executive officer, stated: "Having 98.8 percent of the outstanding warrants exercised demonstrates strong support for the company's track record and faith in its future course. The additional funds will assist us in meeting our continued growth plans. We at Jean Philippe welcome our new shareholders."
 Jean Philippe Fragrances produces and distributes fragrances in three markets: domestic and international licensed fragrances; alternative designer fragrances in North and South America; and moderately priced fragrances, internationally.
 -0- 9/17/92
 /CONTACT: Russell Greenberg of Jean Philippe Fragrances, 212-983-2640/
 (JEAN) CO: Jean Philippe Fragrances, Inc. ST: New York IN: HOU SU:


GK-OS -- NY083 -- 0775 09/17/92 15:23 EDT
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Publication:PR Newswire
Date:Sep 17, 1992
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