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Non-Tech : GNCI General Nutrition -- Ignore unavailable to you. Want to Upgrade?

To: John Gough who wrote (27)	1/15/1999 3:14:00 PM
From: Roger Bodine	Read Replies (1) \| Respond to of 110

BancBoston Robertson Stephens Reiterates Buy on General Nutrition Companies PR Newswire, Friday, January 15, 1999 at 14:18 SAN FRANCISCO, Jan. 15 /PRNewswire/ -- The following is being issued by BancBoston Robertson Stephens, a member of the National Association of Securities Dealers, CRD number 41271: BancBoston Robertson Stephens managing director and senior specialty retailing analyst Janet Joseph Kloppenburg today maintained her Buy rating on General Nutrition Companies, Inc. (NASDAQ:GNCI). General Nutrition Companies, headquartered in Pittsburgh, Pa., is the largest U.S. vertically integrated specialty retailer of nutritional supplements and other health and self-care products, with 2,442 company-owned and 1,290 franchised stores. "We are reiterating our Buy on General Nutrition Companies due to the strong earnings per share accretion potential associated with the Rite-Aid deal, which enables GNC to capitalize on its brand strength across new growth avenues," said Kloppenburg. "The Rite-Aid alliance builds the following three strong incremental revenue streams: 1. an estimated $10.5 million operating income associated with approximately 1,000 GNC shop-in Rite-Aid stores, 2. an estimated $7 million operating income associated with GNC manufacturing Rite-Aid's private label and the new Pharmassure brand, and 3. an estimated $6 million operating income associated with Pharmassure sales across GNC's 3,900 stores." "The alliance with Rite-Aid should yield earnings per share accretion to our core fiscal year 2000 estimate of $1.52 of approximately $0.18 to $0.20. Thus, we are confident in our fiscal year 2000 earnings per share estimate of $1.70, a 17 percent increase from our 1999 estimate of $1.45," said Kloppenburg. Clients interested in receiving more information should contact their salesperson at 415-781-9700. BancBoston Robertson Stephens is a leading international investment banking firm focused on emerging growth companies. The firm's 55 senior research analysts cover over 575 companies. Additional information is available upon request. The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of BancBoston Robertson Stephens, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in "Investment Risks." BancBoston Robertson Stephens from time to time performs corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, BancBoston Robertson Stephens has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. BancBoston Robertson Stephens, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation. BancBoston Robertson Stephens International Ltd. is regulated by the Securities and Futures Authority in the United Kingdom. This publication is not meant for private customers. The securities discussed herein are not FDIC insured, are not deposits or other obligations or guarantees of BankBoston N.A., and are subject to investment risk, including possible loss of any principal amount invested. SOURCE BancBoston Robertson Stephens -0- 01/15/99 /CONTACT: Elizabeth Keys of BancBoston Robertson Stephens, 415-693-3334/ Companies or Securities discussed in this article: Symbol Name NASDAQ:GNCI General Nutrition Cos Inc