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VALUE CITY DOWNSIZES PUBLIC OFFERING

 VALUE CITY DOWNSIZES PUBLIC OFFERING
 COLUMBUS, Ohio, June 1 /PRNewswire/ -- Value City Department Stores,


Inc. (NYSE: VCD) announced today that it has revised the size of its planned public offering to 3.7 million shares from 5.0 million shares. The number of shares to be offered by the company is being reduced to 2.5 million from 3.0 million, while the number of shares to be offered by a selling stockholder, GB Stores, will be reduced to approximately 1.2 million from 2.0 million shares. The company noted that the recent low market price of its stock was the principal reason for this change.
 The shares are being offered, in part, in connection with the company's planned acquisition of the net assets of Gee Bee Department Stores from GB Stores. New York Stock Exchange rules require that GB Stores sell a minimum of approximately 1.2 million shares in order to conclude the acquisition without the need for a costly and time consuming shareholder approval.
 Value City Department Stores, Inc., a full-line, off-price department store chain, operates 56 stores throughout the Midwest and East.
 -0- 6/1/92
 /CONTACT: Lynn Morgen, Edward Nebb, or Amy Ludwig, 212-986-5900, of Morgen-Walke Associates for Value City Department Stores/
 (VCD) CO: Value City Department Stores, Inc. ST: Ohio IN: REA SU: OFR


PS-LR -- NY078 -- 5881 06/01/92 16:26 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
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