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EQUITABLE BOARD DECLARES INITIAL DIVIDEND

 EQUITABLE BOARD DECLARES INITIAL DIVIDEND
 NEW YORK, Sept. 17 /PRNewswire/ -- The board of directors of The


Equitable Companies Incorporated (NYSE: EQ) today declared a cash dividend of five cents per share on the company's common stock, payable Oct. 16, 1992 to shareholders of record Sept. 28.
 The declaration represents the initial dividend action taken by the company's board following the successful completion of The Equitable's demutualization and initial public offering (IPO) in mid-July. Through its conversion from a mutual to a shareholder-owned company and its $450 million IPO, Equitable raised approximately $1.45 billion in new capital. As a result of these initiatives, the company's capital base has increased significantly and now stands at approximately $2.6 billion.
 It is the intention of the Equitable Companies board to declare common dividends on a regular quarterly basis beginning in November 1992.
 The Equitable Companies Incorporated is one of the world's premier investment managers with nearly $150 billion of assets under management through products distributed by its primary businesses: The Equitable Life Assurance Society; Alliance Capital Management L.P.; Donaldson, Lufkin & Jenrette, Inc.; Equitable Capital Management and Equitable Real Estate Investment Management, Inc.
 -0- 9/17/92
 /CONTACT: Terrance Little, 212-554-8929 (media), or Greg Wilcox, 212-554-2595 (investors), both of Equitable/
 (EQ) CO: Equitable Companies Incorporated ST: New York IN: FIN SU: DIV


PS -- NY060 -- 0662 09/17/92 12:29 EDT
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Publication:PR Newswire
Date:Sep 17, 1992
Words:229
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