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RALLY'S INC. ANNOUNCES SENIOR NOTES OFFERING

 LOUISVILLE, Ky., March 2 /PRNewswire/ -- Rally's Inc. (NASDAQ: RLLY) announced that the registration statement relating to its offering of $85 million aggregate principal amount of 9 7/8 percent Senior Notes due 2000 was declared effective today. The notes have been offered to the public at a price of 98.705 to yield 10 1/8 percent if held to final maturity and are non-callable for three years. The offering was underwritten by PaineWebber Inc. and included an over-allotment option of $10 million principal amount of notes which was exercised by PaineWebber Inc. today.
 Delivery of the notes is scheduled for March 9, 1993. The notes have been approved for listing on the New York Stock Exchange, subject to official notice of issuance, and will trade under the symbol RLLY 00.
 Rally's intends to use the net proceeds from the offering principally to fund the construction or acquisition of restaurants, as well as to repay existing indebtedness and for general working capital purposes.
 Rally's is the largest chain of double drive-thru restaurants in the United States. At Jan. 8, 1993, the Rally's system included 449 restaurants in 25 states, primarily in the Midwest and the Sunbelt, comprised of 202 company-owned and 247 franchised restaurants. Rally's serves the drive-thru and take-out segments of the quick-service restaurant market, currently the fastest-growing segments in the restaurant industry.
 -0- 3/2/93
 /CONTACT: Wayne M. Albritton, president and COO, or Donald C. Moore, senior VP and CFO, of Rally's, 502-245-8900/
 (RLLY)


CO: Rally's Inc. ST: Kentucky IN: LEI SU: OFR

JL-EH -- LA031 -- 2111 03/02/93 16:13 EST
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Publication:PR Newswire
Date:Mar 2, 1993
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