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ELECTROGLAS OFFERING AMENDED

 STAMFORD, Conn., June 7 /PRNewswire/ -- General Signal Corporation (NYSE: GSX) announced today that its Electroglas, Inc. subsidiary has filed an amendment to its registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of 6,200,000 shares of its common stock. All of the shares will be sold by General Signal. The public offering price is currently anticipated to be between $16.00 and $18.00 a share.Of the shares proposed to be sold in the public offering, 4,960,000 shares will be offered in the United States by an underwriting group managed by Lehman Brothers; Bear, Stearns & Co. Inc.; and Needham & Company, Inc. and 1,240,000 shares will be offered outside of the United States by an international investment banking syndicate managed by Lehman Brothers International; Bear, Stearns International Limited; and Needham & Company, Inc. General Signal has also granted the underwriters an overallotment option for a total of 600,000 additional shares.
 Electroglas will not receive any of the proceeds of the offering.
 Electroglas, headquartered in Santa Clara, Calif., is a leader in the development, manufacture, marketing, and servicing of automatic wafer probing equipment for use in the fabrication of semiconductor devices. General Signal Corporation, with 1992 sales of $1.6 billion, is a leading manufacturer of equipment and instruments for the process control, electrical, and industrial technology industries.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission 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.
 A revised preliminary prospectus relating to these securities may be obtained from Lehman Brothers, 34 Hubert Street, New York, NY 10013, Attn: Prospectus Department; Bear, Stearns & Co. Inc., One Metrotech Center, Brooklyn, NY 11201, Attn: Prospectus Department; or Needham & Company, Inc., 400 Park Avenue, New York, NY 10022, Attn: Prospectus Department.
 -0- 6/7/93
 /CONTACT: Stephen W. Nagy of General Signal, 203-357-8800/
 (GSX)


CO: General Signal Corporation; Electroglas, Inc. ST: Connecticut, California IN: CPR SU: OFR

SH -- NY025 -- 5875 06/07/93 09:23 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
Words:412
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