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HOLLINGER INC. FILES OFFERING OF SOUTHAM-LINKED CONVERTIBLE DEBENTURES

 TORONTO, Nov. 23 /PRNewswire/ -- Hollinger Inc. (HLG) announced that it has filed today a final prospectus for its offering of 7.00 percent Southam-Linked Convertible Debentures due Nov. 1, 1998 in Canada. As a result of strong demand, the issue has been increased to $125 million. Each Debenture will be convertible on maturity at the option of the holder into a number of common shares of Hollinger calculated to allow the holder to benefit by virtue of an increase in the market price of common shares of Southam Inc. above $17.50, subject to a maximum limit of $24.50 per Southam common share.
 The closing of this offering is expected to occur on Wednesday, Dec. 1, 1993. The net proceeds of the offering, together with other funds of Hollinger, will be used by Hollinger to repay all of its $125 million Adjustable Rate Convertible Subordinated Debentures due 2008. Notice of such redemption will be given following the closing of the offering of the debentures.
 Hollinger is a Canadian-based international newspaper company which, through its subsidiaries and associated companies, is engaged primarily in the publishing, printing and distribution of newspapers and magazines in the United Kingdom, the United States, Canada, Australia and Israel.
 -0- 11/23/93
 /CONTACT: J.A. Boultbee, vice-president, finance and treasury of Hollinger Inc., 416-363-8721/
 (HLG.)


CO: Hollinger Inc. ST: Ontario IN: PUB SU: OFR

GK-PS -- NY041 -- 7252 11/23/93 12:00 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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