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CERIDIAN ADJUSTS CONVERSION PRICE OF 8-1/2 PERCENT CONVERTIBLE SUBORDINATED DEBENTURES

 CERIDIAN ADJUSTS CONVERSION PRICE OF 8-1/2 PERCENT
 CONVERTIBLE SUBORDINATED DEBENTURES
 Adjustment Is Result of Recent Control Data Systems Spin-Off
 MINNEAPOLIS, Aug. 17 /PRNewswire/ -- Ceridian Corporation announced today that it has reduced the conversion price of its 8-1/2 percent convertible subordinated debentures due June 15, 2011. The adjusted conversion price, which became effective July 30, 1992, is equal to $24.06 in aggregate principal amount of convertible debentures for each share of Ceridian common stock.
 The adjustment from the previous conversion price of $27.75 was required by the governing Indenture as a result of the July 31, 1992, spin-off of Control Data Systems, Inc., Ceridian's former computer systems subsidiary. Ceridian has $163.5 million of convertible debentures outstanding.
 Ceridian Corporation focuses on technology-based services businesses that provide transaction processing, information management and systems integration to commercial and government customers.
 -0- 8/17/92
 /CONTACT: Nancy Foltz of Ceridian, 612-853-5229/ CO: Ceridian Corporation ST: Minnesota IN: SU:


KH -- MN004 -- 0357 08/17/92 09:01 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
Words:167
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