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OFFICE DEPOT ANNOUNCES EXPIRATION OF TENDER OFFER

 DELRAY BEACH, Fla., Sept. 30 /PRNewswire/ -- Office Depot, Inc. (NYSE: ODP) today announced that its previously announced offer and consent soliciation for $90 million aggregate principal amount of 13 percent Series B Senior Subordinated Notes Due 2002 of Eastman, Inc. ("Eastman") expired at 5 p.m. (New York City time) on Sept. 29, 1993 and will not be extended.
 Based on a preliminary report provided by the depositary for the offer and consent solicitation, a total of $81,250,000 aggregate principal amount of the notes, or approximately 90 percent of the outstanding notes, were tendered pursuant to the offer and consent solicitation and not withdrawn prior to the expiration date. Pursuant to the terms of the offer, Office Depot will pay $1,265 plus accrued interest per $1,000 principal amount of notes, or an aggregate of approximately $106 million for all notes tendered. Payment for the notes will be made promptly after the notes are accepted for purchase in accordance with the offer and consent solicitation. In addition, pursuant to the terms of the consent solicitation, Eastman and the trustee under the indenture governing the notes executed a supplemental indenture which amends the indenture governing the notes.
 Office Depot is the largest office products superstore chain in North America, and through Eastman, one of the largest contract stationers.
 -0- 9/30/93
 /CONTACT: Barry Goldstein, executive vice president and CFO, 407-265-4237, or Gary Schweikhart, public relations manager, 407-265-4399, both of Office Depot/
 (ODP)


CO: Office Depot, Inc.; Eastman, Inc. ST: Florida IN: REA SU: OFR

AW-BR -- FL002 -- 7121 09/30/93 08:41 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
Words:266
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