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SPEC'S MUSIC SIGNS LETTER OF INTENT TO PURCHASE ALL ASSETS OF Q RECORDS AND TAPES

 SPEC'S MUSIC SIGNS LETTER OF INTENT
 TO PURCHASE ALL ASSETS OF Q RECORDS AND TAPES
 MIAMI, March 12 /PRNewswire/ -- Spec's Music, Inc. (NASDAQ: SPEK) announced today that it has signed a letter of intent for the purchase of substantially all the assets of Q Records and Tapes. Q Records and Tapes was founded in 1978 by Lynda Stone and operates four stores in South Florida; two in Miami, one in Pembroke Pines and one in Plantation. Revenues for Q Records and Tapes during its fiscal year ending March 31, 1992 will be approximately $4 million.
 The final purchase price is subject to physical inventories of merchandise held for sale and rental, but is expected to be approximately $1 million. The company will operate the Q locations as Spec's stores and expects to retain current store employees.
 Spec's Music, Inc. is publicly held company founded in 1948 by Martin W. Spector. The company is the largest specialty retailer in Florida of pre-recorded music and video product. The company currently operates 57 stores within the state of Florida and one store in Puerto Rico which sell compact discs, cassettes, video movies and a variety of audio and video related accessories.
 -0- 3/12/92
 /CONTACT: Martin W. Spector, 305-661-3451, or Peter Blei, 305-592-7288, both of Spec's Music, Inc./
 (SPEK) CO: Spec's Music, Inc.; Q Records and Tapes ST: Florida IN: REA SU: TNM


SS-JJ -- FL007 -- 7574 03/12/92 17:24 EST
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Publication:PR Newswire
Date:Mar 12, 1992
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