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 DELRAY BEACH, Fla., Sept. 9 /PRNewswire/ -- Office Depot, Inc. (NYSE: ODP) today announced that the company is extending its previously announced offer and consent solicitation for $90 million aggregate principal amount of 13 percent Series B Senior Subordinated Notes Due 2002 of Eastman, Inc. ("Eastman") in connection with the company's previously announced acquisition of Eastman Office Products Corporation, the parent of Eastman ("EOPC"). The offer and consent solicitation will now expire at 5 p.m., New York City time, on Monday, Sept. 13, 1993, unless extended by the company. Additionally, the company announced that it may close its acquisition of EOPC on Friday, Sept. 10, 1993, at which time the condition to the offer requiring that the acquisition be completed will be met.
 Under the terms of the offer, the price that noteholders will receive is 122.5 percent of the principal amount of their Notes, plus accrued interest, and noteholders will receive a payment of 3 percent of the principal amount for consents to certain proposed amendments to the indenture governing the Notes. The offer and consent solicitation is conditioned upon execution of a supplemental indenture providing for the proposed amendments to the indenture, the consummation of the principal components of the acquisition of EOPC and certain other conditions. As of the close of business on Sept. 7, 1993, $11,500,000 principal amount of the Notes had been tendered pursuant to the offer and consents for $11,500,000 principal amount of the Notes had been delivered pursuant to the solicitation.
 A supplement to the tender offer documents setting for the amended and supplemented terms and conditions of the offer and consent solicitation is being mailed to noteholders today.
 Merrill Lynch & Co. is acting as dealer manager for the offer and consent solicitation, D.F. King & Co., Inc. is acting as information agent and Shawmut Bank Connecticut, National Association is acting as depositary.
 Any questions or requests for copies of the tender offer documents may be directed to the information agent at 212-269-5550 or the dealer manager at 212-449-8362.
 Office Depot is the largest office products superstore chain in North America.
 -0- 9/993
 /CONTACT: Barry Goldstein, executive vice president and CFO, 407-265-4237, or Gary Schweikhart, public relations manager, 407-265-4399, both of Office Depot/

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

RC-CM -- FL008 -- 0157 09/09/93 09:09 EDT
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Publication:PR Newswire
Date:Sep 9, 1993

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