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UNR REPORTS FAVORABLE TAX REGULATIONS

 CHICAGO, Dec. 28 /PRNewswire/ -- UNR Industries, Inc. (NASDAQ-NMS: UNRI; MSE) reported that it will be accorded favorable tax treatment under the final regulations recently issued by the Internal Revenue Service under Section 468B concerning tax treatment of transfers of property to "Settlement Funds." These regulations apply to the company's 1989 transfer of 29.4 million shares of UNR stock to the UNR Asbestos-Disease Claims Trust.
 The final regulations allow the Trust to be classified as a Qualified Settlement Fund on Jan. 1, 1993, and entitle the company to a tax deduction for the value of the stock held by the Trust on that date. Alternatively, the regulations allow continued Grantor Trust treatment through 1995 with a tax deduction to the company on Jan. 1, 1996, for the value of the stock held by the Trust on that date. Due to the complexity of the regulations and their economic consequences, the company and the Trust have not yet determined which of the alternative tax treatments permitted by the regulations will be adopted.
 Under either treatment, Qualified Settlement Fund or Grantor Trust, the company anticipates recording a substantial tax benefit in the fourth quarter of 1992, which will significantly increase the company's fourth-quarter reported net income and stockholders' equity.
 It is anticipated that the company and the UNR Asbestos-Disease Claims Trust will make a decision as to which alternative tax treatment will be adopted by mid-January, 1993.
 -0- 12/28/92
 /CONTACT: Henry Grey, vice president-finance and treasurer of UNR Industries, Inc., 312-341-1234/
 (UNRI)


CO: UNR Industries, Inc. ST: Illinois IN: SU:

DH -- DE006 -- 9980 12/28/92 09:14 EST
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Publication:PR Newswire
Date:Dec 28, 1992
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