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SAVOY PICTURES FILES PUBLIC COMMON STOCK AND DEBT OFFERING

 NEW YORK, Oct. 12 /PRNewswire/ -- Savoy Pictures Entertainment, Inc. (NASDAQ-NMS: SPEI) today announced that it has filed registration statements with the Securities and Exchange Commission relating to public offerings of 1,750,000 shares of common stock of the company and an additional $25,000,000 aggregate principal amount of its convertible subordinated debentures due July 1, 2003, convertible into shares of common stock of the company at $18.60 per share. The offering of debentures is contingent on approval of a majority of existing debentureholders. The proposed offerings will be managed by Allen & Company Incorporated, and neither offering is conditional upon consummation of the other. The company's common stock trades on the NASDAQ National Market System under the symbol "SPEI" and the debentures trade on the NASDAQ Small-Cap Market under the symbol "SPEIG."
 Preliminary prospectuses relating to these securities may be obtained from Allen & Company Incorporated, 711 Fifth Avenue, New York, N.Y. 10022.
 Registration statements relating to these securities have been filed with the Securities and Exchange Commission but have not yet become effective. These securities 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 these securities in any State in which such offer or solicitation for sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 -0- 10/12/93
 /CONTACT: Terri Napolitani of Savoy Pictures Entertainment, Inc., 212-247-5810/
 (SPEI)


CO: Savoy Pictures Entertainment, Inc. ST: New York IN: ENT SU: OFR

TS -- NY033 -- 0996 10/12/93 10:14 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
Words:286
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