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MACANDREWS & FORBES COMPLETES TENDER OFFER FOR MARVEL SHARES

 NEW YORK, May 7 /PRNewswire/ -- MacAndrews & Forbes Holdings Inc. announced today that it had completed its $30 cash tender offer for 10 million shares of common stock of Marvel Entertainment Group, Inc. (NYSE: MRV).
 MacAndrews & Forbes said that a total of approximately 13,945,000 Marvel shares (including approximately 1,686,000 shares subject to guarantees of delivery) had been tendered pursuant to the offer and that 10 million of such shares had been accepted for payment in accordance with the terms of the offer.
 While the definitive proration factor will not be available until after the expiration of the guaranteed delivery period on May 13, 1993, MacAndrews & Forbes estimates that approximately 71.7 percent of all shares validly tendered pursuant to the offer have been accepted for payment, assuming that all tenders utilizing the guaranteed delivery procedures are completed. MacAndrews & Forbes anticipates that it will be able to announce the final proration factor on or before May 17, 1993.
 The 10 million shares accepted for payment pursuant to the offer, together with the 28,800,000 shares beneficially owned by MacAndrews & Forbes prior to the commencement of the offer, constitute approximately 80.3 percent of Marvel's outstanding shares.
 -0- 5/7/93
 /CONTACT: James T. Conroy of MacAndrews & Forbes Holdings, 212-572-5980/
 (MRV)


CO: MacAndrews & Forbes Holdings Inc.; Marvel Entertainment Group, Inc. ST: New York IN: ENT SU:

GK-OS -- NY057 -- 6031 05/07/93 14:38 EDT
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Publication:PR Newswire
Date:May 7, 1993
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