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COUNTRYWIDE FUNDING CORP. TO OFFER $200 MILLION OF SUBORDINATED NOTES DUE 2002

 COUNTRYWIDE FUNDING CORP. TO OFFER
 $200 MILLION OF SUBORDINATED NOTES DUE 2002
 PASADENA, Calif., Sept. 25 /PRNewswire/ -- Countrywide Funding Corp., the principal subsidiary of Countrywide Credit Industries Inc. (NYSE: CCR), today announced that it filed a registration statement with the Securities and Exchange Commission (SEC) relating to a proposed public offering of $200,000,000 of subordinated notes due 2002 unconditionally guaranteed as to payment of principal and interest by Countrywide Credit Industries Inc. The proposed public offering will be managed by Salomon Brothers Inc., Lehman Brothers and Merrill Lynch & Co.
 A registration statement relating to these securities has been filed with the SEC 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 Credit Industries Inc. originates, purchases, sells and services loans for single-family homes. Countrywide was founded in 1969 and employs more than 2,500 people at its Pasadena and Simi Valley, Calif. locations and its retail and wholesale branches across the country.
 -0- 9/25/92
 /CONTACT: Karel Carnohan, 818-304-7523, or Laura Lippman, 818-304-4422, both of Countrywide/
 (CCR) CO: Countrywide Funding Corp.; Countrywide Credit Industries ST: California IN: FIN SU: OFR


LS-EH -- LA006 -- 3574 09/25/92 14:50 EDT
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Publication:PR Newswire
Date:Sep 25, 1992
Words:265
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