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WESTINGHOUSE RECEIVES PROCEEDS FROM BOND SALE

 PITTSBURGH, Sept. 1 /PRNewswire/ -- Westinghouse Electric Corporation (NYSE: WX) announced today that it has received the net proceeds from the sale of $600 million of senior debt.
 The senior debt included $275 million principle amount of 6-


7/8 percent notes due Sept. 1, 2003 and $325 million principle amount of 7-7/8 percent debentures due Sept. 1, 2023. The issue was managed by Lehman Brothers with Morgan Stanley Co. as co-manager.
 "We are extremely pleased with the bond market's positive response," said Laurence A. Chapman, vice president and treasurer. "It is a clear sign of the confidence the market places in Westinghouse's return to financial stability.
 "Westinghouse's primary objective is to reduce its short-term debt. These new debt issues provide the corporation with a stable source of funds until the years 2003 and 2023. While short-term rates are attractive, the 6-7/8 percent and 7-7/8 percent coupons on the debt issues represent a very attractive cost of funds."
 /delval/
 -0- 9/1/93
 /CONTACT: Jay McCaffrey of Westinghouse, 412-642-3366/
 (WX)


CO: Westinghouse Electric Corporation ST: Pennsylvania IN: SU:

CD -- PG008 -- 8038 09/01/93 14:53 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
Words:189
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