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/C O R R E C T I O N -- MINNESOTA POWER/

 In MN011, moved Jan. 27, we are advised by the company that the fourth graph, last line should read "shareholders of record Feb. 16, 1993" rather than "Feb. 15" as originally issued.
 MINNESOTA POWER ANNOUNCES 23RD CONSECUTIVE DIVIDEND INCREASE
 DULUTH, Minn., Jan. 27 /PRNewswire/ -- The board of directors of Minnesota Power (NYSE: MPL) today raised the quarterly dividend on common stock from 48.5 cents per share to 49.5 cents per share.
 The board's action marked the 23rd consecutive year in which the diversified Duluth-based power supplier has raised its cash dividend.
 The indicated annual dividend amounts to $1.98 per share, compared with $1.94 per share paid in 1992.
 There are some 27,000 registered shareholders owning approximately 30 million shares of Minnesota Power common stock. The regular quarterly dividend on common stock is payable March 1, 1993 to shareholders of record Feb. 16, 1993.
 Minnesota Power directors also declared regular dividends on outstanding shares of preferred stock. Preferred dividends are payable April 1, 1993 to shareholders of record March 15, 1993.
 Minnesota Power supplies electric power in upper Minnesota and northwestern Wisconsin. Company subsidiaries operate water and wastewater treatment utilities in Florida and the Carolinas. Other company-owned businesses include paper manufacturing and coal mining.
 -0- 2/2/93 R
 /CONTACT: Warren F. Hudelson of Minnesota Power, 218-723-3934/
 (MPL)
 /PRNewswire -- Feb. 2/


CO: Minnesota Power ST: Minnesota IN: OIL SU: DIV

KH -- MN007 -- 1941 02/02/93 13:44 EST
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Publication:PR Newswire
Date:Feb 2, 1993
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