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Lamar Advertising Announces Effective Registration of New Equity and Debt Offerings.

BATON ROUGE, La.--(BUSINESS WIRE)--Nov. 22, 1996--Lamar Advertising Company (Nasdaq: LAMR) announced today the effectiveness of the registration of its public offerings of 2,200,000 shares of its Class A Common Stock at a price of $23 per share, all of which are being sold by the Company, and of $255 million aggregate principal amount of its 9 5/8% Senior Subordinated Notes due 2006.

The stock offering is being managed by Smith Barney Inc., Alex. Brown & Sons Incorporated and Prudential Securities Incorporated, and the note offering is being managed by Smith Barney Inc., Chase Securities Inc., and CIBC Wood Gundy Securities Corp. A copy of each prospectus may be obtained from any of the foregoing or any other underwriter participating in the offerings.

The net proceeds of the offerings will be used by the Company to repay existing indebtedness and for general corporate purposes, including acquisitions.

Lamar Advertising Company is an owner and operator of outdoor advertising structures, with 36 primary markets in 14 southeastern, Midwestern and Mid- atlantic states. It also operates the largest logo sign business in the United States and has recently expanded into the transit advertising business.

CONTACT: Lamar Advertising Company, Baton Rouge

Keith A. Istre or Rod Rackley, 504/926-1000
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Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 22, 1996
Words:208
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