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MARRIOTT BOARD FINALIZES SPECIAL DIVIDEND FOR OCT. 8

 WASHINGTON, Sept. 29 /PRNewswire/ -- Marriott Corporation (NYSE: MHS) said today that its board of directors has determined that the conditions for the company's planned special dividend have been satisfied, and the distribution will proceed as scheduled. Marriott will commence distribution of the dividend Oct. 8, 1993 to shareholders of record at the close of business on Sept. 30, 1993.
 Under terms of the special dividend, company shareholders will receive one share of Marriott International, Inc., a lodging and services management company, for each share they own in Marriott Corporation. Marriott Corporation will be renamed Host Marriott Corporation, and will own hotels and retirement communities, and operate airport and tollroad concessions.
 The board decision came after the receipt yesterday of a favorable ruling from the Internal Revenue Service that the special dividend will be tax-free.
 Marriott said the exchange offer for its outstanding notes and senior debentures is scheduled to expire on Oct. 7, 1993. The exchange offer had been conditioned on the consummation of the special dividend. Marriott said that, because the special dividend is now unconditional, this condition to the exchange offer has now been satisfied.
 -0- 9/29/93
 /CONTACT: Nick Hill of Marriott Corporation, 301-380-7484/
 (MHS)


CO: Marriott Corporation ST: District of Columbia IN: FIN SU: DIV

KD-MH -- DC023 -- 6765 09/29/93 11:05 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
Words:219
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