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WESTINGHOUSE FILES REGISTRATION STATEMENT FOR PERCS ISSUE

 WESTINGHOUSE FILES REGISTRATION STATEMENT FOR PERCS ISSUE
 PITTSBURGH, Feb. 7 /PRNewswire/ -- Westinghouse Electric Corporation (NYSE: WX) announced today that it has filed a registration statement with respect to a public offering by the company of 26 million depositary shares, each representing one-quarter of a share of Preferred Equity Redemption Cumulative Stock (PERCS).
 The dividend on the depositary shares will be higher than the current dividend on Westinghouse common stock. At maturity, each depositary share will be automatically converted into one share of Westinghouse common stock. Westinghouse will have the option to call the depositary shares for conversion into common stock prior to maturity at a declining call price which will represent a predetermined premium over the price of Westinghouse common stock on the effective date of the offering. The dividend, maturity date and call price will be determined prior to the offering.
 Morgan Stanley & Co. will manage the offering with Lehman Brothers. The registration statement includes 3.9 million depositary shares to cover the underwriters' over-allotment options.
 Westinghouse is a diversified, global, technology-based corporation focused on seven principal market segments: electronic systems, power systems, environmental systems, broadcasting, industries, financial services and office furniture.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.
 -0- 2/7/92
 /CONTACT: Jay A. McCaffrey of Westinghouse Electric, 412-642-3366/
 (WX) CO: Westinghouse Electric Corporation ST: Pennsylvania IN: SU:


CD -- PG012 -- 7849 02/07/92 14:45 EST
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Publication:PR Newswire
Date:Feb 7, 1992
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