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ARVIN ANNOUNCES PROGRAM FOR ODDLOT SHAREHOLDERS

 COLUMBUS, Ind., Oct. 22 /PRNewswire/ -- Arvin Industries, Inc. (NYSE: ARV), today announced a voluntary program through which all shareholders owning fewer than 100 shares of Arvin common stock may sell all of their shares, conveniently, by mail.
 The program provides an opportunity for Arvin shareholders who, as of Oct. 8, 1993, were holding less than 100 shares, to sell all of their eligible shares to Arvin Industries, Inc.
 "Many stockholders owning a relatively small number of shares of Arvin common stock have continued to hold their shares simply because of the cost or inconvenience of selling them. A number of these stockholders have written to us asking if we would consider helping them sell their shares," said Arvin CEO Byron Pond.
 If shareholders wish to participate, a processing fee of 50 cents per share will be deducted from the proceeds of the sale of shares sold, to help defray the costs associated with the program.
 Arvin will purchase these oddlot shares at a price per share equal to the average of the closing market prices, less the 50 cents processing fee, as reported by the New York Stock Exchange during the period of Oct. 22, 1993, through Nov. 22, 1993. Arvin cannot guarantee the price per share.
 Shareholders interested in the program can contact Shareholder Communications Corporation at 800-733-1665. The program is scheduled to expire on Nov. 22, 1993.
 Arvin Industries, Inc., is a Fortune 250 company supplying automotive parts and related products and services throughout the world.
 -0- 10/22/93
 /CONTACT: John W. Brown of Arvin Industries, 812-379-3389/
 (ARV)


CO: Arvin Industries, Inc. ST: Indiana IN: AUT SU:

AR-KL -- CL013 -- 5658 10/22/93 10:49 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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