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VARLEN DECLARES THREE FOR TWO STOCK SPLIT AND QUARTERLY CASH DIVIDEND ON SPLIT SHARES

 NAPERVILLE, Ill., Aug. 23 /PRNewswire/ -- Varlen Corp. (NASDAQ: VRLN) directors today declared a three-for-two split of the company's common stock, and a quarterly cash dividend of 10 cents per share on the split shares.
 The quarterly cash dividend will be paid on Nov. 1 to shareholders of record at the close of business on Oct. 15.
 The company previously paid a quarterly dividend of 15 cents per share but the stock split maintains the net amount of the payment at its previous level.
 The stock split will be effected as a stock dividend with payment on Oct. 14 to shareholders of record at the close of business on Sept. 30.
 The stock split increases the company's common shares outstanding from 3,214,000 to 4,821,000 shares.
 Richard L. Wellek, president and chief executive officer, said that the stock split would put the company's stock price in a trading range more attractive to retail purchasers.
 "Increasing our number of shares outstanding should also improve our stock's liquidity," Wellek said.
 Varlen designs, manufactures and markets engineered industrial products, primarily for specialized applications in the transportation and laboratory equipment markets. The company serves U.S. and foreign markets with operating locations in the United States and Germany. Headquarters are in Naperville. The common stock is traded on the NASDAQ National Market under the symbol VRLN, and the 6-1/2 percent convertible subordinated debentures are traded on the NASDAQ SmallCap Market under the symbol VRLNG.
 -0- 8/23/93
 /CONTACT: Richard L. Wellek, president and CEO, or Richard A. Nunemaker, vice president, finance and CFO, 708-420-0400, both of Varlen Corp.; or Nicholas G. Biro of O'Connor Biro & Associates, 708-498-2284/
 (VRLN)


CO: Varlen Corp. ST: Illinois IN: SU: DIV

SM -- NY060 -- 5176 08/23/93 16:39 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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