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CALGENE ISSUES COMMON SHARES UPON CONVERSION OF PREFERRED STOCK

 CALGENE ISSUES COMMON SHARES UPON CONVERSION OF PREFERRED STOCK
 DAVIS, Calif., July 28 /PRNewswire/ -- Calgene Inc. (NASDAQ: CGNE) announced that approximately 4,064,700 shares of its common stock have been issued upon conversion of shares of Calgene's $2.25 convertible exchangeable preferred stock prior to the redemption date of such preferred stock on July 27, 1992. A total of 4,159 shares of the preferred stock were not converted and are being redeemed. The 13,636 shares of common stock that would have been issued had these redeemed shares been converted are being sold to the standby underwriters, Paine Webber Inc. and Piper Jaffray Inc. Calgene will use the proceeds to fund the redemption price of the unconverted shares of preferred stock.
 A copy of the prospectus is available at Calgene, 1920 Fifth Street, Davis, CA 95616, attention Investor Relations; telephone: 916-753-6313.
 Calgene is an agribusiness biotechnology company that is developing improved plant varieties and plant products for the seed, food and specialty chemical industries. The company has four operating subsidiaries: Ameri-Can Pedigreed Seed Co., Calgene Chemical, Calgene Fresh and Stoneville Pedigreed Seed Co.
 -0- 7/28/92
 /CONTACT: Mike Motroni or Carolyn Hayworth of Calgene, 916-753-6313/
 (CGNE) CO: Calgene Inc. ST: California IN: SU:


MM-DG -- SF011 -- 4213 07/28/92 15:47 EDT
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Publication:PR Newswire
Date:Jul 28, 1992
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