HOUSTON - Oshman's Sporting Goods Inc. said it entered into an agreement providing for a three-year, $32.5 million revolving credit with CIT Group/business Credit Inc.

Advances under the facility will be based on a borrowing-base formula, subject to certain loan reserves. The facility is secured primarily by inventory, accounts receivable, and estate.

The CIT Group is owned by Dai-Ichi Kangyo Bank of Japan and Chemical Banking Corp., New York.

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