Richard Woodroof, owner of Captain Video in Stamford, Conn., wasn't about to let Blockbuster's Lolita exclusive go unchallenged. The chain, having locked up the U.S. video rights to the R-rated Adrian Lyne film from Showtime Networks, flooded its 4,000 U.S. stores with copies on Feb. 9. But the day before, through a Video Software Dealers Association website, Woodroof made available to independent retailers 1,200 copies of Lolita he had obtained from a Canadian wholesaler. The video store proprietor — who declares, ''the reimportation of U.S. goods is not illegal'' — stuck six on his shelves and sold the rest to stores across the country. For its part, Blockbuster ''really doesn't have an opinion'' about the loophole tactics, according to a spokeswoman. Which leaves Woodroof to do a brisk business. ''We've been swamped,'' he said. ''We've shipped [all tapes in stock] and there are about 25 other orders that I can't fill yet.''

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