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REGIS ANNOUNCES MAJOR BANKING RELATIONSHIP AGREEMENT REACHED WITH LASALLE NATIONAL BANK, CHICAGO

 MINNEAPOLIS, May 5 /PRNewswire/ -- Regis Corporation (NASDAQ: RGIS) announced a new banking relationship with LaSalle National Bank, Chicago. LaSalle has committed to an unsecured line of credit to support the working capital needs of Regis Corporation. The new line of credit replaces Regis' existing lines of credit with First Bank Minneapolis and Barclays Bank. LaSalle has also become the depository and disbursement bank for Regis.
 "Our agreement with LaSalle supports our banking needs on highly favorable terms," said Paul Finkelstein, President of Regis. "It is a pleasure to have a major bank like LaSalle demonstrate its faith in our credit worthiness and future prospects."
 Regis Corporation, based in Minneapolis, is the largest owner and operator of mall-based hair and retail product salons in the world. Regis owns and operates 1,396 hairstyling salons in four divisions: Regis Hairstylists, MasterCuts, Trade Secret and International. It is also the franchisor of 64 Trade Secret retail product salons. It has over 15,000 employees worldwide.
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 /CONTACT: Paul D. Finkelstein, Frank E. Evangelist or Jack T. Holewa of Regis Corporation, 612-947-7000; or David Walke, Amy Weisman, Melissa Garelick or (Press) Lisa Bradlow of Morgen-Walke Associates, 212-850-5600/
 (RGIS)


CO: Regis Corporation ST: Minnesota IN: REA SU:

TW -- NY068 -- 3269 05/05/94 11:42 EDT
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Publication:PR Newswire
Date:May 5, 1994
Words:214
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