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SPELLING ENTERTAINMENT GROUP INC. TO REDEEM ALL OUTSTANDING AARON SPELLING PRODUCTIONS, INC. 12-1/4 PERCENT SUBORDINATED NOTES

 CINCINNATI, Dec. 23 /PRNewswire/ --Spelling Entertainment Group Inc. (NYSE: SP) announced today that its subsidiary, Aaron Spelling Productions, Inc., is calling for redemption the remaining $12.5 million principal amount of its outstanding 12-1/4 percent subordinated notes due Aug. 1, 1993 (the "Notes"). The company has set Feb. 1, 1993 as the redemption date. Pursuant to the indenture, the company will pay 100 percent of the principal amount of each note redeemed. The regular semi-annual interest payment will be paid on Feb. 1, 1993 to noteholders of record on Jan. 15, 1993. Interest on the notes will no longer accrue on or after Feb. 1, 1993. Information and notices of redemption will be mailed to noteholders within the next week.
 Spelling is a leading distributor and producer of filmed entertainment. The company distributes television programs and feature films worldwide for television, cable and home video exhibition and holds a library in excess of 12,000 hours. The company is also engaged in the development and production of television series, mini-series, movies for television and feature films. Current network programming includes "Beverly Hills, 90210" and "Melrose Place" on the Fox Broadcasting Network. Spelling also distributes theatrical motion pictures to various media in the international market, produces feature films financed and distributed primarily by other studios and licenses music and merchandising rights associated with its television properties.
 Spelling Entertainment Group's common stock trades on the New York and Pacific Stock Exchanges under the symbol "SP."
 -0- 12/23/92
 /CONTACT: Sandra W. Heimann of Spelling Entertainment Group, 513-579-2482/
 (SP)


CO: Spelling Entertainment Group Inc. ST: Ohio IN: ENT SU:

KK -- CL007 -- 9651 12/23/92 15:20 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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