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PAGING NETWORK DEBT PRICED

 PAGING NETWORK DEBT PRICED
 DALLAS, May 14 /PRNewswire/ -- Paging Network, Inc. (NASDAQ: PAGE)


announced today that its offer of $200,000,000 aggregate principal amount of Senior Subordinated Notes due 2002 has been priced at 11-3/4 percent and the registration statement has been declared effective by the Securities and Exchange Commission.
 The company will receive the net proceeds of the offering May 20. Net proceeds from the sale of the notes will be used to repay the debt under its revolving credit agreement and for general corporate purposes.
 "The successful completion of this offering puts in place a capital structure that allows the company to execute expansion plans which will take the company into the majority of the million-plus population centers in the country," said George M. Perrin, president and chief executive officer.
 In addition, the company's secondary offering of 6,000,000 common shares was priced at $16 and the registration statement has been declared effective by the Securities and Exchange Commission. The company will not receive any proceeds from the common stock offering.
 Paging Network, the largest and fastest growing provider of paging services, offers paging services in 22 states and the District of Columbia. At March 31, the company had approximately 1,438,983 pagers in service and currently has approximately 1,540,000 pagers in service.
 -0- 5/14/92
 /CONTACT: Jenny Haynes of Paging Network, 214-985-6986/
 (PAGE) CO: Paging Network, Inc. ST: Texas IN: TLS SU: OFR


KD -- NY104 -- 0406 05/14/92 16:15 EDT
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Publication:PR Newswire
Date:May 14, 1992
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