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ITT SUBSIDIARY INVITATION TO NOTE HOLDERS EXPIRES

 NEW YORK, Aug. 24 /PRNewswire/ -- ITT Corporation announced today that the invitation of its subsidiary ITT Financial Corporation to holders of certain of ITT Financial's notes and debentures expired yesterday and ITT Financial has accepted securities pursuant to the invitation. Payment for purchased securities is expected to be made on Wednesday, Aug. 25, 1993, in accordance with the terms and conditions of the invitation.
 The following table sets forth, for each series covered by the invitation, the clearing spread, the applicable benchmark U.S. Treasury yield, the price to be paid for such series in the invitation and the applicable proration factor, if any.
 Issue Clearing UST Benchmark Price Pro-Ration
 Spread Factor
 8.90 percent
 Due 3/1/1995 20 3.70 percent 107.293 ---
 8.375 percent
 Due 8/1/1995 25 3.91 percent 107.748 ---
 11 percent
 Due 10/15/1995 25 3.97 percent 113.717 ---
 7.375 percent
 Due 10/15/1995 30 3.97 percent 106.275 0.21365
 8.50 percent
 Due 6/1/1996 30 4.24 percent 110.176 ---
 7 percent
 Due 1/15/1997 30 4.49 percent 106.831 ---
 9.875 percent
 Due 4/15/1997 45 4.56 percent 115.989 0.48989
 7.25 percent
 Due 5/15/1997 30 4.60 percent 107.897 ---
 8.50 percent
 Due 1/15/1998 47.5 4.80 percent 112.480 0.26538
 8.125 percent
 Due 11/15/1998 35 5.01 percent 112.437 ---
 10.125 percent
 Due 4/5/1999 48 5.04 percent 121.951 0.09794
 9.25 percent
 Due 7/15/2001 57 4.95 percent 115.782 0.61242
 -0- 8/24/93
 /CONTACT: Jim Gallagher of ITT, 212-258-1261/
 (ITT)


CO: ITT Corporation; ITT Financial Corporation ST: New York IN: SU:

MP -- NY048 -- 5465 08/24/93 12:56 EDT
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Publication:PR Newswire
Date:Aug 24, 1993
Words:308
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