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MAXXAM SUBSIDIARY SETS DATE AND TERMS TO DEFEASE NOTES

 HOUSTON, Aug. 4 /PRNewswire/ -- MAXXAM Inc. (AMEX: MXM) said today that its subsidiary, MAXXAM Group Inc. (MGI), has defeased all $150 million outstanding principal amount of its 12-3/4-percent Notes due 1995. The MGI Notes will be redeemed on Nov. 15, 1993, at 101 percent of their principal amount, plus accrued interest through Nov. 14, 1993.
 Effective Nov. 15, 1993, the Notes will become due and payable upon presentation and surrender at First Trust, National Association, 180 East Fifth St., St. Paul, MN 55101.
 MAXXAM Inc. is a FORTUNE 500 company that operates in three industries: aluminum, forest products (through MGI) and real estate management and development.
 -0- 8/4/93
 /CONTACT: Scott Lamb of MAXXAM, 713-267-3826/
 (MXM)


CO: MAXXAM Inc.; MAXXAM Group Inc. ST: Texas IN: MNG PAP SU:

GT -- SF004 -- 9298 08/04/93 10:53 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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