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ALLEN GROUP ANNOUNCES REDEMPTION OF PREFERRED STOCK

 BEACHWOOD, Ohio, June 8 /PRNewswire/ -- The Allen Group Inc. (NYSE: ALN) announced today that on July 16, 1993 (the "Redemption Date") it will redeem all outstanding shares of the company's $1.75 Convertible Exchangeable Preferred Stock, Series A (the "Preferred Stock"), at the redemption price of $25.525 per share plus the dividends accrued and unpaid on each such share of Preferred Stock to the Redemption Date in the amount of $.30625. The Notice of Complete Redemption will be mailed to the registered holders of the Preferred Stock on June 15, 1993.
 At the option of the holder, each share of Preferred Stock is convertible into one share of the Common Stock of the company. The right to convert shares of Preferred Stock to Common Stock will terminate at the close of business on the Redemption Date.
 The right of a holder to convert shares of Preferred Stock into Common Stock is a valuable right. For example, based on the closing market price for the company's Common Stock on The New York Stock Exchange on June 7, 1993, the holder of a share of Preferred Stock, if converted, would receive one share of Common Stock having a market value of $41.50. On the other hand, if a share of Preferred Stock were not converted into Common Stock, the holder of such share would be entitled to receive on the Redemption Date only the redemption price of $25.525 per share plus the accrued and unpaid dividends thereon in the amount of $.30625.
 The funds required for the payment of the redemption price of shares of Preferred Stock called for redemption and not converted prior to the Redemption Date will be deposited by the company with its Redemption Agent, Harris Trust Company of New York, by the Redemption Date, in trust for the holders of such shares of Preferred Stock. Registered owners of Preferred Stock not electing to exercise their conversion rights should deliver and surrender their certificates of Preferred Stock to Harris Trust Company of New York on or before the Redemption Date in accordance with the Notice of Complete Redemption, and on such date they will become entitled to receive payment of the redemption price.
 From and after the Redemption Date, all dividends on shares of Preferred Stock called for redemption will cease to accrue, such shares will no longer be deemed to be outstanding, and all rights of the holders as stockholders of the company shall cease, except the right to receive the redemption price.
 The Allen Group Inc. (NYSE symbol - ALN) manufactures and markets electronic and other products, principally for the telecommunications and automotive industries, including mobile communications equipment, automotive test equipment and truck components and operates centralized automotive emissions inspection programs.
 -0- 6/8/93
 /CONTACT: Robert A. Youdelman of The Allen Group Inc., 216-765-5820/
 (ALN)


CO: The Allen Group Inc. ST: Ohio IN: AUT TLS SU:

BM -- CL008 -- 6417 06/08/93 09:41 EDT
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Date:Jun 8, 1993
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