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TREDEGAR TO REALIZE GAIN FROM INVESTMENT SALE

 RICHMOND, Va., Feb. 10 /PRNewswire/ -- Tredegar Industries Inc. (NYSE: TG) announced today that, as part of a public offering by Emisphere Technologies Inc. (NASDAQ: EMIS), it has agreed to sell 300,000 shares of Emisphere common stock. The sale, scheduled to close on Feb. 18, will result in an after-tax gain of $950,000 or 9 cents per share.
 Upon completion of the sale, Tredegar will own 128,571 shares of Emisphere common stock. The company also holds warrants to purchase 214,286 shares of Emisphere stock. The warrants have an exercise price of $10.50 per share and expire on Feb. 15, 1994. In the fourth quarter of 1992, Tredegar sold 112,500 shares of Emisphere stock, which resulted in an after-tax gain of $680,000, or 6 cents per share.
 Tredegar is a diversified manufacturer of plastics and metal products and has interests in coal, oil and gas.
 -0- 2/10/93
 /CONTACT: Edward A. Cunningham, 804-330-1598, or Thomas E.B. Phillips, 804-330-1043, both of Tredegar Industries/
 (TG EMIS)


CO: Tredegar Industries Inc.; Emisphere Technologies Inc. ST: Virginia IN: MNG OIL SU:

DC -- DC023 -- 5248 02/10/93 14:43 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 10, 1993
Words:193
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