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CENTRAL AND SOUTH WEST CORPORATION UNIT INVITES BONDHOLDERS TO TENDER UP TO $220.9 MILLION OUTSTANDING BONDS

 DALLAS, June 9 /PRNewswire/ -- Central and South West Corporation (NYSE: CSR) announced today that Central Power and Light Company (CPL), one of its wholly owned operating subsidiaries, is inviting holders of two series of tax-exempt pollution control revenue bonds issued by Matagorda County Navigation District Number One (Texas) to submit to CPL offers to sell for cash any and all of their bonds at purchase prices designated by bondholders.
 CPL has extended the invitation to participate in the "modified dutch auction" tender offer to bondholders owning the $139.2 million of 10-1/8 percent pollution control revenue bonds, Series 1984, due Oct. 15, 2014 and the $81.7 million of 9-3/4 percent collateralized pollution control revenue bonds, Series 1985A, due July 1, 2015, aggregating a total principal amount of $220.9 million. CPL has established minimum offer prices of $116.494 per $100 principal amount for the Series 1984 Bonds and $114.103 per $100 principal amount for the Series 1985A Bonds. The dealer-manager for the invitation is Goldman, Sachs & Co., the information agent is D.F. King & Co., Inc. and Bankers Trust Company will serve as Depositary.
 The invitation, which is subject to the issuance of a new series of pollution control revenue bonds as well as certain other conditions, will expire at 5 p.m., Eastern time on Friday, July 9, 1993, unless earlier terminated or extended by CPL at its sole discretion. Notice of early termination or extension will be given on the Munifacts Wire System and the Dow Jones News Service.
 Central and South West Corporation, a Dallas-based public utility holding company, owns four electric subsidiary companies that provide service to portions of Texas, Oklahoma, Louisiana and Arkansas. It also owns an Oklahoma intrastate natural gas pipeline subsidiary and four other subsidiaries.
 -0- 6/9/93
 /CONTACT: Sharon Peavy, director of investor relations for Central and South West, 214-777-1277/
 (CSR)


CO: Central and South West Corporation ST: Texas IN: UTI SU:

WB -- NY044 -- 0179 06/09/93 13:06 EST
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Publication:PR Newswire
Date:Jun 9, 1993
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