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GRUMMAN CALLS $2.80 PREFERRED STOCK FOR REDEMPTION

 GRUMMAN CALLS $2.80 PREFERRED STOCK FOR REDEMPTION
 BETHPAGE, N.Y., June 18 /PRNewswire/ -- Grumman Corporation


(NYSE: GQ) announced today that it will retire all outstanding shares of its $2.80 cumulative preferred stock. The redemption is effective July 30, 1992, at the price of $25.867 per share, with accrued interest.
 Holders of shares will be mailed written notice and instructions for redemption on June 30, 1992. The Bank of New York is redemption agent.
 The preferred stock was originally issued in 1979 and 1,192,249 shares were outstanding as of the close of business June 17, 1992.
 The redemption, which will cost approximately $31 million, is in addition to the company's debt reduction plan. Total debt was $592 million at March 31, 1992, down from $722 million at Dec. 31, 1991.
 Grumman Corporation is best known as a leading international aircraft and aerospace company. Other businesses range from sophisticated integrated information and electronics systems to U.S. Postal Service delivery trucks. Headquartered in Bethpage, N.Y., Grumman employs 22,500 people. Revenues were $4 billion in 1991.
 -0- 6/18/92
 /CONTACT: Miriam Reid of Grumman, 516-575-3999/
 (GQ) CO: Grumman Corporation ST: New York IN: ARO SU:


LR -- NY063 -- 1610 06/18/92 15:44 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
Words:209
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