DUFF & PHELPS OFFERS STOCK
DUFF & PHELPS OFFERS STOCK CHICAGO, Nov. 1 /PRNewswire/ -- Duff & Phelps Utilities Tax-Free
Income Inc., a newly organized closed-end investment company, is offering 7,000,000 shares of common stock at an offering price of $15 per share. The shares will be offered through a large group of underwriters in early November. The New York Stock Exchange has approved listing of the shares under the symbol DTF.
The fund will invest primarily in a diversified portfolio of investment grade, tax-exempt utility bonds. The primary objective of the fund is to provide current income that is exempt from regular federal income tax, consistent with preservation of capital. Duff & Phelps Investment Management Co. will be the fund's investment advisor, and will utilize the services of its affiliate -- Duff & Phelps/MCM Investment Research Co. -- one of the largest providers of specialized research on utility securities. -0- 11/1/91 /CONTACT: Francis E. Jeffries of Duff & Phelps/Chicago, 312-630-4501; or Robert D. Milne of Duff & Phelps/Cleveland, 216-771-3450/ (DTF) CO: Duff & Phelps Utilities Tax-Free Income Inc. ST: Illinois IN: FIN SU: OFR JT -- NY028 -- 0139 11/01/91 10:40 EST
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|Date:||Nov 1, 1991|
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