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May 25, 2000

Los Angeles-based apparel maker Guess Inc., citing current stock market conditions, said it has decided not to proceed with its proposed secondary offering of common stock at this time. On April 27, Guess said it would sell 4.5 million new shares to pay off debt and fund expansion. Since then, its stock has lost nearly 40%. It closed down 25 cents at $17 on the New York Stock Exchange.

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