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WESTINGHOUSE CREDIT TO SOLICIT CONSENT OF PREFERRED STOCKHOLDERS TO MERGER

 PITTSBURGH, April 8 /PRNewswire/ -- Westinghouse Credit Corporation (WCC), a subsidiary of Westinghouse Electric Corporation (NYSE: WX), is soliciting the consent of the holders of its outstanding Class B and Class C variable term preferred stock to the merger of WCC into Westinghouse.
 The proposed merger, which was announced by Westinghouse on Jan. 27, 1993, is intended to facilitate the corporation's plan to exit the financial services business.
 Preferred stockholders of record on April 7, 1993, are entitled to consent to the merger. Upon consummation of the merger, each share of the outstanding variable term preferred, originally issued at $100,000 per share, will be cancelled and converted into the right to receive, in cash, $106,500 per share in the case of the Class B shares and $115,000 per share in the case of the Class C shares, plus in each case an amount equal to unpaid dividends to the effective time of the merger.
 The consent solicitation period will expire on April 28, 1993, or upon receipt of consents representing a majority of the shares outstanding. The merger is subject to required regulatory approvals.
 Morgan Stanley & Co. is acting as solicitation agent and D.F. King & Co. is acting as information agent in conjunction with the consent solicitation.
 /delval/
 -0- 4/8/93
 /CONTACT: Jay McCaffrey of Westinghouse, 412-642-3366/
 (WX)


CO: Westinghouse Credit Corporation; Westinghouse Electric Corporation ST: Pennsylvania IN: FIN RLE SU: TNM

DM -- PG006 -- 4138 04/08/93 10:06 EDT
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Publication:PR Newswire
Date:Apr 8, 1993
Words:245
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