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-Lamar Advertising Company announced today that it entered into an underwriting agreement for the sale by the company of 6 million shares of its Class A Common Stock at a price to the public of $32.50. Net proceeds to the company from the sale are expected to be approximately $191 million. Lamar intends to use the proceeds to repay amounts outstanding under its credit facility. The sale is expected to close on Dec. 23, 1998.

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