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COUNTRYWIDE CREDIT INDUSTRIES INC. TO OFFER 3 MILLION ADDITIONAL SHARES OF COMMON STOCK

        COUNTRYWIDE CREDIT INDUSTRIES INC. TO OFFER 3 MILLION
                ADDITIONAL SHARES OF COMMON STOCK
    PASADENA, Calif., Jan. 22 /PRNewswire/ -- Countrywide Credit Industries Inc. (NYSE: CCR), the nation's largest independent mortgage banker, today announced that it filed a registration statement with the Securities and Exchange Commission relating to a proposed public offering of 3 million new shares of its common stock.  The proposed public offering will be managed by Merrill Lynch & Co. and co-managed by Lehman Brothers, Salomon Brothers Inc., Dean Witter Reynolds Inc. and Mabon Securities Corp.
    The registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
    Countrywide originates, purchases, sells and services home mortgage loans.  Countrywide was founded in 1969 and employs more than 1,500 people at its Pasadena headquarters and its retail and wholesale branches across the country.  Countrywide's common stock is publicly traded on the New York Stock Exchange and the Pacific Stock Exchange under the symbol "CCR."
    -0-                    1/22/92
    /CONTACT:  Karel Carnohan, 818-304-7523, or Laura Lippman, 818-304-4422, both of Countrywide Credit Industries/
    (CCR) CO:  Countrywide Credit Industries Inc. ST:  California IN:  FIN SU:  OFR JL -- LA010 -- 2137 01/22/92 09:54 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 22, 1992
Words:276
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