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22 MILLION SHARES OF GENERAL INSTRUMENT CORPORATION COMMON STOCK PRICED AT $15 PER SHARE IN INITIAL PUBLIC OFFERING

 22 MILLION SHARES OF GENERAL INSTRUMENT CORPORATION COMMON STOCK
 PRICED AT $15 PER SHARE IN INITIAL PUBLIC OFFERING
 CHICAGO, June 9 /PRNewswire/ -- The initial public offering of 22,000,000 shares of General Instrument Corporation priced at $15 per share was announced today.
 All the shares being offered are being sold by the company. Net proceeds from the sale will be used to reduce General Instrument Corporation's outstanding bank debt. Various Forstmann Little partnerships and Management will now own approximately 54.0 percent and 9.5 percent, respectively, of the company's outstanding shares after the offering on a fully diluted basis and excluding the over-allotment options. The company has granted the underwriters options to purchase up to an additional 3,300,000 shares to cover over-allotments.
 Goldman, Sachs & Co. and Merrill Lynch & Co. are the managers for the 17,600,000 share U.S. offering and Goldman Sachs International Limited and Merrill\Lynch International Limited are the managers for the 4,400,000 share international tranche.
 The company's shares will be listed on NYSE under the symbol GIC and will begin trading tomorrow.
 General Instrument Corporation is a leader in broadband transmission, distribution and access control technologies for cable, satellite and terrestrial broadcasting applications, as well as in discrete power rectifying components.
 General Instrument's DigiCipher high definition television system was the first all-digital HDTV entrant in the competition for the U.S. HDTV standard, and is the first all-digital HDTV system to have successfully completed testing by the Federal\Communications Commission.
 Copies of the prospectus may be obtained from Goldman, Sachs & Co., 85 Broad Street, New York, N.Y. 10004.
 -0- 6/9/92
 /CONTACT: George Sard or Tom Sanford of Ogilvy Adams & Rinehart, 212-557-0100, for General Instrument/ CO: General Instrument Corporation ST: Illinois IN: SU: OFR


PS -- NY076 -- 8613 06/09/92 19:45 EDT
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Publication:PR Newswire
Date:Jun 9, 1992
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