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Microcap & Penny Stocks : Ames Department Stores (AMES) -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Tang who wrote (1825)	1/24/2001 10:58:17 AM
From: Art Baeckel	Read Replies (1) \| Respond to of 1911

AMES @ 4.5! ART Ames Receives $800 Million Commitment From GE Capital Business Wire - January 24, 2001 09:58 ROCKY HILL, Conn.--(BUSINESS WIRE)--Jan. 24, 2001--Ames Department Stores, Inc. (NASDAQ: AMES) announced today that it has signed a commitment for $800 million of senior secured financing from GE Capital. This three-year facility replaces the company's existing $650 million senior credit facility. The terms of the new facility include a higher borrowing base and advance rate which, along with other features, will significantly increase availability and strengthen the company's cash flow and financial flexibility. "The new facility will give us added flexibility to follow through on many of the initiatives we have put into place over the last two years," said Joseph R. Ettore, Ames Chairman & CEO. "In addition, it puts us in a position to enhance profitability even in this tough retail environment." With 447 stores located in 19 states and the District of Columbia, Ames is the nation's largest regional, full-line discount retailer with annual sales of approximately $4 billion. Ames offers a broad range of merchandise categories including family apparel, housewares, domestics, electronics, ready-to-assemble and patio furniture, jewelry, craft and pet supplies, health and beauty care items, stationery, sporting goods, toys seasonal products and more. For fax copies of Ames' most recent news releases, dial 1-800-925-7792. To find the location of the Ames store nearest you, dial 1-800-SHOP-AMES. Visit us a amesstores.com or espanol.amessstores.com. CONTACT: Ames Department Stores, Inc., Rocky Hill Mary McCabe, 860/257-2590 mmccabe@ameshome.com