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MAXCO UNIT FILES REGISTRATION STATEMENT

 LANSING, Mich., Jan 10 /PRNewswire/ -- Maxco, Inc. (NASDAQ-NMS: MAXC) announced that its subsidiary, FinishMaster, Inc., has filed a registration statement with the Securities and Exchange Commission for an initial public offering of common stock. FinishMaster intends to offer up to 1.7 million shares of previously unissued shares of its common stock. The proceeds from the offering will be used by FinishMaster to fund acquisitions, repay indebtedness, finance working capital and general corporate purposes. Maxco, Inc., FinishMaster's parent, will grant the Underwriters a 30-day option to purchase up to 255,000 additional shares of common stock solely to cover over- allotments, if any. The offering will be made only by means of a prospectus and will be managed by Pacific Growth Equities. FinishMaster distributes automotive paints, coatings and paint-related accessories.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 A prospectus relating to these securities may be obtained at a later date from Pacific Growth Equities at 353 Sacramento Street, San Francisco, CA 94111 (415-274-6800).
 -0- 1/10/94
 /CONTACTS: Max Coon, president, or Vince Shunsky, vice president of finance of Maxco, Inc., 517-321-3130; or Martha Watterson of The Investor Relations Co., 708-564-5610, for Maxco/
 (MAXC)


CO: Maxco, Inc.; FinishMaster, Inc. ST: Michigan IN: FIN SU: OFR

KT -- DE015 -- 0749 01/10/94 17:46 EST
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Publication:PR Newswire
Date:Jan 10, 1994
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