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XEROX CORPORATION TO REDEEM 8-5/8 PERCENT SINKING FUND DEBENTURES DUE 1999

 XEROX CORPORATION TO REDEEM 8-5/8 PERCENT
 SINKING FUND DEBENTURES DUE 1999
 STAMFORD, Conn., Aug. 31 /PRNewswire/ -- Xerox Corporation (NYSE: XRX) announced today that all of its issued and outstanding 8-5/8 percent Sinking Fund Debentures due Nov. 1, 1999 will be redeemed on Nov. 1, 1992 in two separate redemptions.
 As of Aug. 31, 1992, approximately $93 million aggregate principal amount of the debentures were outstanding. Of the debentures to be redeemed, $24 million will be redeemed through operation of the mandatory and optional sinking funds at a price equal to 100 percent of their principal amount, plus accrued interest, and the remaining approximately $69 million of debentures will then be redeemed at a price equal to 100.84 percent of their principal amount, plus accrued interest.
 The debentures to be redeemed pursuant to the mandatory and optional sinking funds will be identified through random computer selection conducted by Chemical Bank, the trustee for the debentures. Interest on the debentures will cease to accrue on and after Nov. 1, 1992.
 To receive the redemption payment, certificates for the debentures must be surrendered to Chemical Bank.
 Questions concerning the redemption should be directed to Chemical Bank, Corporate Trust Administration at (212) 820-5155.
 -0- 8/31/92
 /CONTACT: Jeremiah J. Mahoney of Xerox, 203-968-3075/
 (XRX) CO: Xerox Corporation ST: Connecticut IN: SU:


LR -- NY010 -- 4824 08/31/92 09:08 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Aug 31, 1992
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