SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) January 15, 1996
Greenstone Roberts Advertising, Inc.
(Exact name of registrant as specified in its charter)
New York 000-17468 11-2250305
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) ID Number)
One Huntington Quadrangle, Suite 1c14
Melville, New York 11747
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number,
including area code: (516) 249-2121
N/A
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events
Reference is made to the press release attached hereto
and forming a part hereof.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
GREENSTONE ROBERTS ADVERTISING, INC.
By:/s/ Ronald M. Greenstone
Name: Ronald M. Greenstone
Title: Chief Executive Officer
and Chairman of the Board
Dated: January 16, 1996
[Letterhead of Greenstone Roberts Advertising, Inc.]
NEWS RELEASE
Greenstone Roberts Advertising Reports Agreement to Repurchase
2,061,900 Common Shares
MELVILLE, N.Y.--(BUSINESS WIRE)--Jan. 15, 1996--
Greenstone Roberts Advertising, Inc. (NASDAQ:GRRI) Monday
announced that it has agreed to purchase 2,061,900 shares of its
issued and outstanding common stock from ZPR Investment
Management, Inc. for an aggregate purchase price of $845,379, or
$.41 per share, plus certain expenses.
Closing of the transaction is expected to take place
within the next week.
Greenstone Roberts Advertising, Inc. currently has
9,536,318 shares of common stock issued and outstanding.
Following completion of the transaction, the Company will have
7,474,418 common shares outstanding.
"We are pleased to have been offered the opportunity to
repurchase these shares," commented Ronald Greenstone, Chairman
of Greenstone Roberts Advertising. "We believe it is an
excellent use of the Company's available cash and will increase
shareholder equity by approximately $.02 per share."
Greenstone Roberts Advertising, Inc. is one of the
nation's top 125 advertising agencies with capitalized billings
of $80 million. In addition to print and broadcast advertising,
the agency provides specialized marketing communications services
to its clients, including public relations, investor relations,
recruitment advertising, market research, sales promotion, direct
mail and package design.
A member of the American Association of Advertising
Agencies, Greenstone Roberts is headquartered in Melville, New
York and has offices in Coconut Creek, Miami and Orlando,
Florida. In addition, Greenstone Roberts is a global agency with
affiliated offices in major cities worldwide.
CONTACT: Greenstone Roberts Advertising, Inc.
Ronald Greenstone, 516/249/2121
Barry A. Rothman, 305/975-3500
