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AMP'S PUERTO RICAN AFFILIATE, PAMCOR, INC., BECOMES WHOLLY OWNED SUBSIDIARY OF AMP

 AMP'S PUERTO RICAN AFFILIATE, PAMCOR, INC.,
 BECOMES WHOLLY OWNED SUBSIDIARY OF AMP
 HARRISBURG, Pa., Sept. 4 /PRNewswire/ -- Action was taken today that changes the status of Pamcor, Inc. from an affiliate owned by AMP (NYSE: AMP) shareholders via a trust to that of a wholly owned subsidiary of AMP.
 The termination of this trust, which was approved by a favorable vote of 76 percent of all of the outstanding common stock of AMP at the annual meeting of the shareholders held on April 22, 1992, was effected today and Pamcor's status reverted to that of a wholly owned AMP subsidiary. Pamcor is a small manufacturing operation in Puerto Rico employing only a few hundred people.
 Originally Pamcor was an AMP subsidiary, but in 1956 a trust was created into which all Pamcor stock was deposited. Prior to today's termination, the trustee (Bankers Trust Co.) endorsed each AMP stock certificate to evidence that an AMP shareholder had the same proportionate beneficial interest in Pamcor as in AMP. All trading in AMP and Pamcor stock was therefore in the form of AMP Endorsed Shares, which were listed on the New York Stock Exchange. AMP shares will continue to be traded on the New York Stock Exchange but the certificates will no longer represent a beneficial interest in Pamcor shares. Existing endorsed certificates will continue in effect and will not be recalled, but hereafter new certificates issued will not contain an endorsement.
 Pamcor is no longer subject to any of the reporting requirements of Securities Act of 1934 and shareholders will no longer receive a separate proxy statement for Pamcor.
 A full description of the termination of the Trust is contained in the proxy statement of AMP dated March 30, 1992.
 Harrisburg-based AMP Incorporated is the world's leading producer of electrical/electronic connection devices. It has 25,100 employees in 165 facilities in the United States and 30 other countries. AMP stock is listed on the New York, Pacific and other regional stock exchanges (symbol "AMP").
 /delval/
 -0- 9/4/92
 /Editors: AMP's next news release will be 4 p.m. Thursday, Sept. 17. It will report on the company's comments on third quarter estimated results and outlook in their 4 p.m. presentation at the Merrill Lynch Connector Industry Conference in New York.
 AMP's next open analyst meeting in Harrisburg will be Friday, Dec. 11, 1992./
 /CONTACT: William Oakland of AMP, 717-780-6371/
 (AMP) CO: AMP Incorporated; Pamcor, Inc. ST: Pennsylvania, Puerto Rico IN: CPR SU:


LJ -- PH002 -- 6812 09/04/92 09:03 EDT
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Publication:PR Newswire
Date:Sep 4, 1992
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