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OFFICE DEPOT ANNOUNCES LIQUID YIELD OPTION(TM) NOTES OFFERING

 DELRAY BEACH, Fla., Oct. 15 /PRNewswire/ -- Office Depot, Inc. (NYSE: ODP), the largest office products superstore chain in North America, today announced that it has filed a registration statement with the Securities and Exchange Commission in connection with a proposed public offering of $250 million face amount of zero coupon Liquid Yield Option(TM) Notes ("LYONs"(TM)) due 2008 ((TM)Trademark of Merrill Lynch & Co., Inc.), which are convertible into shares of Office Depot Common Stock.
 Office Depot anticipates, based on current market conditions, receiving proceeds of approximately $124 million in connection with the offering. The company anticipates that the proceeds of the LYONs will be available for general corporate purposes, including repayment of revolving debt outstanding under the company's credit facility, and will be used to finance the company's expansion and related working capital requirements. Subject to compliance with applicable securities law, Office Depot intends to offer the LYONs, only pursuant to a final prospectus, in an underwritten public offering through Merrill Lynch & Co.
 The registration statement relating to the LYONs has not yet become effective. The LYONs may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the LYONs 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.
 Office Depot currently operates 329 stores in 33 states and four Canadian provinces. Office Depot's common stock is traded on the New York Stock exchange under the symbol "ODP."
 -0- 10/15/93
 /CONTACT: Barry Goldstein, executive vice president/CFO, 407-265-4237, or Gary Schweikhart, public relations manager, 407-265-4399, both of Office Depot/
 (ODP)


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

AW-PC -- FL011 -- 2802 10/15/93 14:30 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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