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AMDURA SUCCESSFULLY COMPLETES DEBT RESTRUCTURING

 TULSA, Okla., Dec. 24 /PRNewswire/ -- Amdura Corporation (NYSE: ADU) announced today that effective Dec. 23, 1992 it has successfully completed the restructuring of its $50 million term note indebtedness.
 The term note indebtedness and accrued and unpaid interest thereon has been converted into, and Amdura's term lending group has received in exchange therefore in accordance with their respective interests: (i) $10,145,380 aggregate principal amount of floating rate secured term debt with a final maturity of five years; (ii) $14,954,483 aggregate principal amount of fixed rate secured subordinated debt with final maturity of nine years; and (iii) 11,966,160 newly issued shares of convertible preferred stock, which, subject to stockholder approval of the convertibility feature thereof, is automatically convertible into 11,966,160 newly issued shares of Amdura common stock. After giving effect to the conversion of the convertible preferred stock and before giving effect to the issuance of shares of common stock pursuant to the non-term lender stockholder warrants and the stock option plan described below, Amdura's term lending group would own approximately 93 percent of Amdura's then outstanding common stock. Immediately prior to the restructuring, Amdura's term lending group owned approximately 86 percent of Amdura's outstanding common stock.
 As part of the restructuring, certain members of Amdura's term lending group have also agreed to provide Amdura with a three-year secured revolving credit facility in the amount of $10 million in order to provide working capital.
 Amdura also announced that as part of the restructuring it is issuing in the form of a dividend and at no cost to its non-term lender stockholders one warrant for each share of Amdura common stock held thereby at the close of business on Jan. 8, 1993, which will entitle the warrantholders to acquire upon exercise and during the period specified in such warrants 1.116 shares of Amdura common stock at an initial exercise price of $2.00 per share, such exercise subject to Amdura's completion of applicable securities laws registration requirements with respect to the underlying shares of common stock and the amendment of Amdura's charter as described below. The warrants will be exercisable during the one year period following the completion of such requirements.
 In reviewing restructuring alternatives, Amdura has been advised as to financial matters by Bear, Stearns & Co. Inc., which has rendered a fairness opinion stating that, based on the analysis and review and subject to the limitations set forth therein, the restructuring taken as a whole is fair to Amdura's non-term lender stockholders from a financial point of view.
 Concurrent with the restructuring, Amdura has implemented a stock option plan for key employees and directors designed to incentivize Amdura's management team pursuant to which designated participants will be entitled to acquire over the period and on the terms specified therein up to 3,655,683 shares of Amdura common stock. In connection with the implementation of the stock option plan, options covering 1,476,411 shares have been granted to certain directors subject to stockholder approval of such plan and options and the amendment of Amdura's charter.
 In connection with the restructuring, Amdura intends to hold a meeting of its stockholders for the purpose of approving a charter amendment to increase its authorized common stock in order to permit the full exercise of the non-term lender stockholder warrants and options granted or to be granted under the stock option plan; approving the stock option plan and the initial grants of options thereunder; approving the convertibility feature of the convertible preferred stock; and providing for the election of directors. Such meeting will be held at a specified date after Amdura's completion and mailing of related definitive proxy materials to stockholders.
 Detailed information concerning the restructuring is included in Amdura's Current Report on Form 8-K being filed with the Securities and Exchange Commission.
 Amdura, headquartered in Tulsa, is through its subsidiaries a manufacturer of products for the overhead lifting and waste recycling and disposal markets.
 -0- 12/24/92
 /CONTACT: Doug Pimple of Amdura Corporation, 918-838-0119/
 (ADU)


CO: Amdura Corporation ST: Oklahoma IN: SU: RCN

LD -- NY016 -- 9870 12/24/92 14:47 EST
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Date:Dec 24, 1992
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