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REGIONAL ROUNDUP

Image Pares Long-Term Debt by $2 Million

March 29, 1994

Image Entertainment Inc., a Chatsworth laser disc distributor, said it has voluntarily reduced its long-term debt by $2 million as part of its debt-reduction plan.

It was the fourth time in Image's fiscal year ending March 31, 1993, that the company has pared down its long-term debt. Since restructuring last March, Image has reduced its long-term debt by $6.5 million, which has cut its annual interest payments by $220,000.

Image also said it was hoping to refinance its remaining $13.5 million in long-term debt at lower interest rates.

For the Record
Los Angeles Times Tuesday April 5, 1994 Valley Edition Business Part D Page 2 Column 5 Zones Desk 2 inches; 50 words Type of Material: Correction
Image Entertainment Inc.--The Times incorrectly reported March 29 the total amount of interest the Chatsworth laser disc distributor would save after voluntarily paying down some of its debt during its fiscal year that ended March 31. All told, those debt reductions will result in annual interest expense savings of $725,000 for Image Entertainment Inc.

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