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GRUMMAN TO REDEEM 100,000 SHARES OF PREFERRED STOCK ISSUE

 GRUMMAN TO REDEEM 100,000 SHARES OF PREFERRED STOCK ISSUE
 BETHPAGE, N.Y., April 22 /PRNewswire/ -- Grumman Corporation (NYSE: GQ) announced today that it will retire 100,000 shares of its $2.80 cumulative preferred stock. There were 1,292,403 shares outstanding as of the close of business April 21, 1992.
 The redemption is effective May 27, 1992, at the price of $25.867 per share. The 100,000 shares will be chosen by lot from holders of record as of April 27, 1992.
 Holders of shares chosen for redemption will be notified in writing on April 28, 1992.
 This is an optional redemption, separate from an annual sinking fund payment of 100,000 shares. In addition to the annual sinking fund redemption, the company can redeem shares and may purchase shares in the open market or in privately negotiated transactions.
 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, Grumman employs 22,700 people. Revenues were $4 billion in 1991.
 -0- 4/22/92
 /CONTACT: Miriam L. Reid of Grumman, 516-575-3999/
 (GQ) CO: Grumman Corporation ST: New York IN: ARO SU:


GK -- NY022 -- 1094 04/22/92 09:20 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 22, 1992
Words:216
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