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LESLIE'S POOLMART SECURES $20 MILLION FINANCING FROM WELLS FARGO BANK

 CHATSWORTH, Calif., Oct. 28 /PRNewswire/ -- Leslie's Poolmart (NASDAQ: LESL) today announced that it has secured an expanded $10 million line of credit, at the prime interest rate, from its existing commercial bank, Wells Fargo. In addition, Wells Fargo has also provided a five-year $10 million term loan at prime plus one-half percent.
 The line of credit will be used primarily for working capital purposes. Proceeds from the term loan will be used to repay acquisition-related obligations and to finance the continued growth of the company.
 Robert D. Olsen, chief financial officer of Leslie's Poolmart, said, "We are very pleased to have the expanded line of credit together with the term loan at these attractive rates. This strengthens our relationship with a high-quality commercial lender and demonstrates the financial strength of the company."
 Founded in 1963, Leslie's Poolmart is the country's leading specialty retailer of swimming pool supplies and related products. The company currently markets its products through 158 retail stores in 26 states and a nationwide mail-order catalog.
 -0- 10/28/93
 /CONTACT: Robert D. Olsen, CFO, of Leslie's Poolmart, 818-993-4212; or Eugene G. Heller of Silverman Heller Associates, 310-208-2550/
 (LESL)


CO: Leslie's Poolmart ST: California IN: REA SU: FNC

NY-JL -- LA016 -- 7653 10/28/93 06:31 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
Words:209
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