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BONDHOLDERS OF CSF HOLDINGS EXCHANGE $12.4 MILLION OF BONDS FOR NOTES

BONDHOLDERS OF CSF HOLDINGS EXCHANGE $12.4 MILLION OF BONDS FOR NOTES
 MIAMI, Dec. 17 /PRNewswire/ -- The owners of $12.4 million of bonds previously issued by CSF Holdings, Inc. (NASDAQ-NMS: CSFCB) have exchanged their bonds for an equal amount of newly issued notes.
 Tendering their bonds were the owners of $6.4 million of 8.5 percent bonds due Dec. 31, 1993; $3.2 million of 8 percent bonds due June 30, 1994; and $2.8 million of 10 percent bonds due June 30, 1992.
 Issued in exchange for the bonds will be $3.2 million of 9.6 percent notes due Dec. 31, 1999; $1.8 million of 10.1 percent notes due Dec. 31, 2001; and $7.4 million of 10.6 percent notes due Dec. 31, 2003.
 In conformity with APB-26 of GAAP accounting regarding early redemption of debt, the company has estimated that an after tax extraordinary gain of approximately $1.5 million will be included in its current fiscal quarter which ends Dec. 31.
 Owners of $19.1 million of previously issued bonds were eligible for the exchange into notes.
 CSF Holdings, Inc. is a publicly owned company listed on the NASDAQ national market system under the symbol CSFCB.
 -0- 12/17/91
 /CONTACT: Morton Trilling, executive vice president of CSF Holdings, Inc., 305-978-5454; or John K. Schulte of Schulte, Ross & Aguilar, Inc., 305-856-1442, for CSF Holdings, Inc./
 (CSFCB) CO: CSF Holdings, Inc. ST: Florida IN: FIN SU:


AW-JJ -- FL006 -- 3041 12/17/91 14:59 EST
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Publication:PR Newswire
Date:Dec 17, 1991
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