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ZENITH TO OFFER STOCK TO PROFIT SHARING RETIREMENT PLAN

ZENITH TO OFFER STOCK TO PROFIT SHARING RETIREMENT PLAN
 GLENVIEW, Ill., Sept. 30 /PRNewswire/ -- Zenith Electronics Corporation (NYSE: ZE) plans to issue common stock with a market value of about $6.2 million to Zenith's salaried employee profit-sharing retirement plan.
 Although the company previously indicated that it planned to make its 1991 contribution to the plan in cash, Zenith's board of directors has decided, in light of the company's financial performance this year, to make the 1991 contribution in Zenith stock.
 The stock contribution, which will fulfill Zenith's 1991 profit sharing obligations to eligible salaried employees, is designed to give employees a greater stake in Zenith's future and to strengthen the company's balance sheet.
 Under the terms of the Zenith Profit-Sharing Retirement Plan, the company contributes the equivalent of 6 percent of each member's eligible 1991 pay to the plan. The number of shares issued will be based on the average closing price of Zenith's stock on the New York Stock Exchange for 20 trading days prior to issuance. After the 1991 contribution, the plan will hold approximately 7 percent of Zenith's outstanding shares.
 The stock is expected to be issued the week of Oct. 12 to The First National Bank of Chicago, trustee of the Zenith Profit-Sharing Retirement Plan.
 -0- 09/30/92
 CONTACT: John Taylor, 708-391-8181, Seymour Lipton (investor), 708-391-7713, both of Zenith Electronics
 (ZE) CO: ZENITH ELECTRONICS CORPORATION IN: CPR ST: IL -- NY022 -- X327 09/30/92
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Sep 30, 1992
Words:240
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