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DU PONT'S CONOCO TO REDEEM DEBENTURES

 DU PONT'S CONOCO TO REDEEM DEBENTURES
 WILMINGTON, Del., Nov. 10 /PRNewswire/ -- Du Pont (NYSE: DD)


announced that on Dec. 21 its subsidiary, Conoco Inc., will fully redeem four public debentures with an aggregate principal value of $423.4 million and three private placement notes with an aggregate principal value of $180 million.
 The redemptions are being made to refinance high-cost debt and will achieve significant interest savings. The company will fully redeem the following public Conoco debentures: $170 million of 9-3/8 percent debentures due 2009 at 102 percent of the principal amount, $78 million of 9-1/8 percent debentures due 1999 at 100.89 percent of the principal amount, $130 million of 8-7/8 percent debentures due 2001 at 101.73 percent of the principal amount, and $45.4 million of 7-1/2 percent debentures due 1999 at 100.5 percent of the principal amount. Each redemption will include accrued interest up to Dec. 21.
 In conjunction with the early redemptions, Du Pont will record an extraordinary charge to net income of about $100 million, or 15 cents per share, in the fourth quarter 1992. This charge represents the balance of unamortized debt discount originally recorded when Du Pont acquired Conoco in 1981. This charge will have no effect on cash.
 The paying agent for the redemption of the public debentures will be Bankers Trust Company, P.O. Box 2579, Church Street Station, New York, N.Y. 10008.
 /delval/
 -0- 11/10/92
 /CONTACT: Loretta R. Clevenger of Du Pont, 302-774-6695/
 (DD) CO: Du Pont; Conoco Inc. ST: Delaware IN: CHM SU:


MP -- PH004 -- 9105 11/10/92 09:10 EST
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Publication:PR Newswire
Date:Nov 10, 1992
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