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SHOE CARNIVAL ANNOUNCES EQUITY OFFERING

 EVANSVILLE, Ind., Oct. 19 /PRNewswire/ -- Shoe Carnival, Inc. (NASDAQ: SCVL) announced today that it filed a registration statement with the Securities and Exchange Commission for a public offering of 2,620,000 shares (adjusted to reflect the three-for-two stock split announced on Sept. 24, 1993) of its common stock. Of the shares to be offered, 1,500,000 shares will be offered by the company and 1,120,000 shares will be offered by certain of the company's shareholders.
 The company's portion of the net proceeds of this offering will be used to repay indebtedness under the company's line of credit, to fund the opening of new stores and the expansion of the company's headquarters and distribution facility and to provide working capital. The offering is being made through an underwriting group managed by McDonald & Company Securities, Inc. and The Robinson-Humphrey Company, Inc.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor can any offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
 A prospectus relating to these securities may be obtained by calling the Equity Syndicate Department at McDonald & Company Securities, Inc. at 800 Superior Ave., Suite 2100, Cleveland, Ohio 44114, 216-443-2370, or The Robinson-Humphrey Company, Inc. at 3333 Peachtree Rd. NE, South Tower, 10th Floor, Atlanta, GA 30326, 404-266-6450.
 Shoe Carnival, Inc. is a high volume, value oriented retailer of family footwear currently operating a chain of 50 stores in 13 states predominantly in the Midwest and Midsouth.
 -0- 10/19/93
 /CONTACT: Mark L. Lemond, executive vice president and chief financial officer of Shoe Carnival, Inc., 812-867-4034/
 (SCVL)


CO: Shoe Carnival, Inc. ST: Indiana IN: REA SU: OFR

AR -- CL017 -- 3925 10/19/93 11:28 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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