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DELTA QUEEN STEAMBOAT CO. RECEIVES COMMITMENT LETTER FOR FINANCING OF THIRD BOAT

BUSINESS EDITORS
 DELTA QUEEN STEAMBOAT CO. RECEIVES COMMITMENT LETTER
 FOR FINANCING OF THIRD BOAT
 NEW ORLEANS, July 16 /PRNewswire/ -- The Delta Queen Steamboat Co. (NASDAQ: DQSB) today announced that it has received a commitment letter for a term loan to be used in the construction of the company's third steamboat. The Delta Queen Steamboat Co. is the owner of the 176- passenger Delta Queen and the 416-passenger Mississippi Queen overnight paddlewheel steamboats.
 The commitment letter, from a major money center bank, is for a six- year term loan totaling $50 million, with $25 million to be underwritten by the bank and the balance to be provided by other participants. The commitment is subject to normal conditions precedent to closing.
 The Delta Queen Steamboat Co.'s plans call for construction to begin on the steamboat this fall, with the 420-passenger boat scheduled to enter service in mid-1994. Total cost is expected to be between $50 million and $60 million. The boat will increase the company's steamboat passenger capacity by 70 percent.
 The Delta Queen Steamboat Co., headquartered in New Orleans, is the only provider of overnight paddlewheel steamboat vacations in North America. The company also owns the Maison Dupuy, a 197-room hotel in New Orleans' French Quarter.
 -0- 7/16/92
 /CONTACT: Kirk Brewer, 312-258-4358, or Patrick Fahey, 504-586-0631, both of the Delta Queen Steamboat Co./
 (DQSB) CO: Delta Queen Steamboat Co. ST: Louisiana IN: LEI SU: FNC


LD -- NY106 -- 9948 07/16/92 16:24 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
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