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ANANGEL-AMERICAN SHIPHOLDINGS LIMITED ANNOUNCES DIVIDEND

 PIRAEUS, Greece, Sept. 28 /PRNewswire/ -- Anangel-American Shipholdings Limited (NASDAQ-NMS: ASIPY) announced that its annual general meeting held on Friday, Sept. 24, had approved the payment of the proposed final dividend of $0.50 per ordinary share. The payment of the dividend will be made on Oct. 1 to shareholders of record date on Sept. 1, 1993.
 In his address to the annual general meeting, the chairman commented that the company's more than satisfactory performance during the last fiscal year ending on June 30, 1993, compared to that of the industry generally, further enhanced its status in the market, as is also evidenced by the price of its stock.
 He also stated that the company's newbuilding program reflected the objectives to establish a better balance between small and large vessels and to further improve the fleet's young age profile, for which the company is widely recognized. He added that, driven by the current regulatory environment, it is only a matter of time before older and poorly maintained vessels are withdrawn from service; a process bound to create healthy revenues for the company's young fleet.
 On Sept. 25, 1993, the company signed a contract for the construction of an additional high specification 73,000 DWT Panamax bulk carrier vessel to be built by Hyundai Heavy Industries for delivery in December 1995. In total, the company presently has on order two 160,000 DWT Capesize and two 73,000 DWT Panamax bulk carrier vessels for deliveries through December 1995.
 -0- 9/28/93
 /CONTACT: M. Costeletos, vice president, in Piraeus, 422-4500, or in London, 71-828-3388/
 (ASIPY)


CO: Anangel-American Shipholdings Limited ST: IN: TRN SU: DIV

LG-PS -- NY044 -- 6337 09/28/93 11:26 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
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