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CENTRAL AND SOUTH WEST CORPORATION UNIT OFFERS $135 MILLION FIRST MORTGAGE BONDS

 DALLAS, April 13 /PRNewswire/ -- Central and South West Corporation (NYSE: CSR) announced today that on April 12, 1993, Public Service Company of Oklahoma (PSO), one of its wholly owned operating subsidiaries, sold to underwriters in a negotiated offering $35 million of 6-1/4 percent First Mortgage Bonds, Series U, due April 1, 2003, and $100 million of 7-3/8 percent First Mortgage Bonds, Series V, due April 1, 2023.
 The Series U bonds are being offered to the public at 99.164 percent to yield 6.36 percent to maturity, with proceeds to PSO of 98.414 percent and a cost of money of 6.47 percent. The Series V Bonds are being offered to the public at 98.568 percent to yield 7.50 percent to maturity, with proceeds to PSO of 97.593 percent and a cost of money of 7.58 percent. The Series U bonds may not be redeemed prior to maturity. The Series V Bonds are not redeemable prior to April 1, 2003. The new bonds are expected to be rated "Aa2" by Moody's Investors Service, "AA-" by Standard & Poor's and "AA" by Duff & Phelps. Merrill Lynch & Co. is lead manager for the offering with J.P. Morgan Securities Inc. and Smith Barney, Harris Upham & Co. Incorporated as co-managers. Net proceeds from the sale of the new bonds will be used to refund PSO's $30.7 million outstanding principal amount of 8-1/4 percent First Mortgage Bonds, Series M, due Jan. 1, 2004, at 102.85 percent of principal amount and $100 million outstanding principal amount of 9 percent First Mortgage Bonds, Series R, due May 1, 2016, at 106.45 percent of principal amount.
 Central and South West Corporation, a Dallas-based public utility holding company, owns four electric subsidiary companies that provide service to portions of Texas, Oklahoma, Louisiana and Arkansas. It also owns an Oklahoma intrastate natural gas pipeline subsidiary and four other subsidiaries.
 -0- 4/13/93
 /CONTACT: Sharon Peavy, director, investor relations of Central and South West, 214-754-1277/
 (CSR)


CO: Central and South West Corporation; Public Service Company of
 Oklahoma ST: Oklahoma IN: UTI SU: OFR


SM -- NY056 -- 5250 04/13/93 13:07 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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