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HADSON FILES BANKRUPTCY PLAN

 HADSON FILES BANKRUPTCY PLAN
 OKLAHOMA CITY, Oct. 15 /PRNewswire/ -- Hadson Corporation


(NYSE: HAD) announced today that it has filed a Chapter 11 bankruptcy petition in the Western District of Oklahoma and has also filed its plan of reorganization which has been accepted by its primary creditors, the Prudential Insurance Company of America and certain of its affiliates, and by the requisite percentage of the holders of its 7-3/4 percent convertible subordinated debentures. The filing does not include Hadson Energy Products and Services, Inc. or any other of Hadson Corporation's subsidiaries or affiliates.
 Hadson also announced that it has consummated, for proceeds of $1.7 million, the sale of certain subsidiaries retained in connection with the December 1992 sale of Hadson Power Systems Incorporated. One million dollars of such proceeds have been used to repay recent borrowings from Prudential. In connection with the filing of its plan of reorganization, Hadson has also filed a motion for approval of an interim credit facility with Prudential providing for total additional borrowings of $500,000 until the effective date of the plan.
 Hadson Corporation is an independent producer and supplier of energy products and services. Hadson has continuing operations in natural gas and gas liquids through its subsidiary, Hadson Energy Products and Services, Inc. (HEPSI). HEPSI is not a party to Hadson Corporation's debt agreements and will not be a party to Hadson's bankruptcy proceedings.
 -0- 10/15/92
 /CONTACT: J. Michael Adcock, president and chief executive officer of Hadson Corporation, 405-235-9531/
 (HAD) CO: Hadson Corporation ST: Oklahoma IN: OIL SU: BCY


AH -- NY053 -- 0384 10/15/92 11:42 EDT
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Publication:PR Newswire
Date:Oct 15, 1992
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