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SOUTHDOWN PLANS TO ISSUE $75 MLN CONVERTIBLE PREFERRED STOCK; LARGEST SHAREHOLDER PLANS TO SELL 1,250,000 COMMON SHARES IN SECONDARY OFFERING

 HOUSTON, Nov. 22 /PRNewswire/ -- Southdown, Inc. (NYSE: SDW) announced that it is filing today with the Securities and Exchange Commission a registration statement relating to the proposed underwritten offering by the company of $75 million of cumulative convertible preferred stock. Southdown will use the proceeds of this offering to redeem a portion of its outstanding 12 percent Senior Subordinated Notes due 1997.
 Southdown is also filing today a registration statement with respect to a proposed underwritten secondary offering by its largest shareholder, the Carpenters Pension Trust for Southern California, of 1,250,000 shares of Southdown Common Stock (excluding 187,500 shares solely to cover over-allotments), or approximately one-half of the Trust's holdings. Upon the expiration of a 90 day lock up period following the effective date of Southdown's preferred stock registration statement, Southdown has agreed that it will, upon request, file a subsequent registration statement to allow the Trust to sell any of its remaining shares.
 Southdown is one of the leading U.S. cement and ready-mixed concrete companies. The company manufactures cement in eight plant locations around the country and markets ready-mixed concrete in Florida and southern California. In addition, the company is engaged in the environmental services business, including waste-fuel processing, recycling and resource recovery.
 Registration statements relating to these securities are being filed today with the Securities and Exchange Commission but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Written prospectuses with respect to these securities may be obtained from Southdown, Inc., 1200 Smith Street, Suite 2400, Houston, Texas 77002, attention: Karen A. Twitchell.
 -0- 11/22/93
 /CONTACT: James L. Persky or Karen A. Twitchell, both of Southdown, 713-650-6200/
 (SDW)


CO: Southdown, Inc. ST: Texas IN: CST SU: OFR

LG -- NY070 -- 6852 11/22/93 13:54 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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