Bowlin Outdoor Advertising & Travel Centers Incorporated

Ticker:	BWLN	150 Louisiana N.E.
Exchange:	NASDAQ-National Market	Albuquerque, New Mexico 87108
Industry:	Retail	(505) 266-5985

Type of Shares:	Common Shares	Filing Date:	9/27/96
U.S. Shares:	1,100,000	Offer Date:	12/17/96
Non-U.S. Shares:	0	Filing Range:	$8.50 - $9.50
Primary Shares:	1,100,000	Offer Price:	$8.00
Secondary Shares:	0	Gross Spread:	$0.56
Offering Amount:	$9,900,000	Selling:	$0.32
Expenses:	$750,000	Reallowance:	$0.10
Shares Out After:	4,833,385

Manager	Tier	Phone
H.D. Brous & Co., Inc.	Lead Manager	(516) 773-1800

	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet
	1/31/96	7/31/96	7/31/95		7/31/96
Revenue:	$20.47	$11.21	$10.80	Assets:	$14.87
Net Income:	$0.38	$0.50	$0.30	Liabilities:	$9.40
EPS:	$0.13	$0.15	$0.10	Equity:	$5.47
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

The company is regional leader in the operation of travel centers and outdoor advertising displays dedicated to serving the traveling public in rural and smaller metropolitan areas of the Southwestern U.S. The company's tradition of serving the public dates back to 1912 when the company's founder, Claude M. Bowlin, started trading goods and services with Native Americans in New Mexico. Bowlin currently operates fourteen full-service travel centers and one free-standing Dairy Queen/Brazier restaurant along interstate highways in Arizona and New Mexico where there are generally few gas stations, convenience stores or restaurants. The company advertises its travel centers through a network of over 300 outdoor advertising display faces.

Use of Proceeds

The proceeds from the proposed offering will be used to repay certain long term indebtedness, to develop and upgrade existing retail operations and for general corporate purposes, including the acquisition of additional travel center and outdoor advertising assets.

Last updated: 12/29/96