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DNE COMPLETES INITIAL CLOSING OF CONVERTIBLE DEBENTURE OFFERING

 DNE COMPLETES INITIAL CLOSING OF CONVERTIBLE DEBENTURE OFFERING
 NEW YORK, Aug. 3 /PRNewswire/ -- DNE Corporation (OTC) announced today that it completed its initial closing from the private sale of convertible debentures of $1,791,000 in gross proceeds. The 11 percent senior subordinated convertible debentures due April 15, 1997 are convertible into common stock of the company at $.181 per share. The company intends to raise up to an additional $209,000 through the sale of the debentures in the next few weeks.
 For over 20 years, DNE Corporation, through its wholly owned subsidiary, NFS Services, Inc. (and its predecessor), has been providing asset recovery services and consulting and relating services to security firms, banks and other financial institutions, bankruptcy trustees and others.
 -0- 8/3/92
 /CONTACT: Eugene N. Scalercio, chairman of the board and CEO of DNE, 212-425-9460/ CO: DNE Corporation ST: New York IN: FIN SU: OFR


LR-TS -- NY041 -- 6102 08/03/92 11:31 EDT
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Publication:PR Newswire
Date:Aug 3, 1992
Words:159
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