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MARY KAY SELLS NOTES

 DALLAS, July 8 /PRNewswire/ -- Mary Kay Corporation announced today it had completed the sale of $55 million aggregate principal amount of 10-1/4 percent senior notes due in the year 2000. The proceeds of the sale were primarily used to redeem the company's 15 percent discount debentures due 2000.
 In 1985, Mary Kay Cosmetics, Inc. returned to private ownership through a management-led buyout. The refinancing transaction announced today completed a series of steps, begun in 1990, to redeem all of the company's publicly-traded debt.
 Mary Kay Corporation is the parent company of Mary Kay Cosmetics, Inc., one of the world's leading producers of skin care, glamour and fragrance products which are sold directly to consumers through its network of more than 300,000 independent beauty consultants worldwide.
 -0- 7/8/93
 /CONTACT: Dwight P. Smith for Mary Kay Corporation, 214-720-0607/


CO: Mary Kay Corporation ST: Texas IN: HOU SU: OFR

TM -- NY098 -- 9699 07/08/93 17:21 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
Words:159
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