Enquirer/Star announces new financing plan.

LANTANA, Fla.--(BUSINESS WIRE)--Nov. 9, 1994--Enquirer/Star Group, Inc. (ENQ-NYSE) ("Group" or the "Company") and its wholly owned subsidiary, Enquirer/Star, Inc. ("Enquirer/Star") announced today that the Registration Statement filed by Enquirer/Star relating to the proposed offering of its

The separate Registration Statement previously filed by Group relating to the proposed public offering of $100 million (gross proceeds) of its Senior Discount Debentures Due 2006 will be withdrawn. The previously announced Special Dividend intended to be paid by Group to its common shareholders will be reduced from $9 per share to $7 per share.

The Company further announced that it has reached an agreement in principle with Chemical Bank, as agent under a proposed new credit agreement, with respect to certain modifications to the terms thereof necessary to facilitate the changes described above, subject to definitive documentation and approval by all proposed lenders under the new credit agreement.

The Company's declaration of the Special Dividend is conditioned upon, among other factors, (i) the completion of the offering of the Senior Subordinated Notes, (ii) the closing of the new credit agreement, and (iii) the acquisition by Enquirer/Star of at least a majority in principal amount of Enquirer/Star's existing public indebtedness pursuant to Enquirer/Star's tender offers therefor.

The Registration Statement relating to the Senior Subordinated Notes has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Enquirer/Star Group, Inc. and Enquirer/Star, Inc., with headquarters in Lantana, Florida, publish National Enquirer, Star, Soap Opera Magazine, Weekly World News, and Country Weekly. Distribution Services, Inc., a wholly owned subsidiary, provides marketing, merchandising and information gathering services to publishing and consumer products companies, as well as retailers.

CONTACT: Enquirer/Star Group, Inc., Lantana

             Richard Pickert, (407) 586-1111 ext. 2103
                              or
             CS First Boston, (212) 909-4858