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OPTION TO PURCHASE 350,000 SHARES OF PLAYBOY EXERCISED BY UNDERWRITERS

 CHICAGO, April 23 /PRNewswire/ -- Playboy Enterprises, Inc. (NYSE: PLA) today announced that the underwriters of the company's public offering of Class B Stock, completed on March 23, exercised their option to purchase an additional 350,000 shares to cover overallotments at the public offering price of 9-3/8, less the underwriting discount. The purchase, completed today, brings to 1.35 million the number of Class B shares issued by the company in the offering. The offering also included 2 million shares sold by a trust established by and for the benefit of Hugh M. Hefner, the company's founder and principal stockholder.
 Bear, Stearns & Co. and Daniels & Associates managed the underwriting syndicate.
 Playboy Enterprises is an international publishing and entertainment company that publishes Playboy magazine and related media, including newsstand specials and calendars; operates a direct marketing business, including the Playboy and Critics' Choice Video catalogs; creates and distributes programming for domestic pay television, worldwide home video and international television; and markets the Playboy trademarks on apparel, accessories and products for consumers around the world.
 -0- 4/23/93
 /CONTACT: Martha O. Lindeman of Playboy, 312-751-8000, ext. 2650/
 (PLA)


CO: Playboy Enterprises, Inc. ST: Illinois IN: PUB SU:

LD -- NY103 -- 0304 04/23/93 17:49 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 23, 1993
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