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STEPAN ANNOUNCES RESULTS OF EXCHANGE OFFER

 STEPAN ANNOUNCES RESULTS OF EXCHANGE OFFER
 NORTHFIELD, Ill., Sept. 14 /PRNewswire/ -- Stepan Company


(AMEX: SCL) announced today that based on a preliminary count, 818,995 shares of the company's common stock were tendered for exchange by 5 p.m. Chicago time on Sept. 11, 1992, the expiration date of the exchange offer announced by the company on Aug. 13, 1992. The company offered to exchange shares of a newly authorized 5 1/2 percent convertible preferred Stock for up to 529,801 shares of its common stock at an exchange ratio of one share of Preferred Stock for each 5.298 shares of common stock validly tendered.
 Since the exchange offer was oversubscribed, based upon the preliminary count, Stepan will accept approximately 65 percent of the shares of common stock validly tendered by each stockholder. The final results will be determined by Sept. 18, 1992, and it is expected that shares of the Preferred Stock will be issued promptly thereafter.
 Stepan Company, headquartered in Northfield, is a leading producer of basic and intermediate chemicals used in household, industrial, personal care, agricultural and energy-related products. The common stock is traded on the American and Midwest Stock Exchanges under the symbol SCL. The preferred stock has been authorized for listing on the Midwest Stock Exchange.
 -0- 9/14/92
 /CONTACT: Joan Kusher of Stepan, 708-446-7500/
 (SCL) CO: Stepan Company ST: Illinois IN: CHM SU: OFR


TS -- NY046 -- 9129 09/14/92 11:49 EDT
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Publication:PR Newswire
Date:Sep 14, 1992
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