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Non-Tech : DESIGNER HOLDINGS

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To: HARRY SINGH who wrote ()	8/22/1997 2:11:00 PM
From: Michael Berkowitz	of 86

Thursday August 21 8:55 AM EDT Designer Holdings to buy back $10 mln stock NEW YORK, Aug 21 (Reuter) - Designer Holdings Inc said Thursday it will buy back up to $10 million of its outstanding common shares over the next two years. At the same time, the company, which markets Calvin Klein jeans, announced it has concluded a new $150 mln five-year revolving credit agreement with a group of lenders led by NationsBank NA, a unit of NationsBank Corp (NB). Arnold Simon, president and chief executive officer, said, ``Our strong cash position and available credit facility allow us to concurrently initiate a stock buyback and hold discussions with various parties regarding possible new licenses or acquisitions.''

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