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COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES STRIKE INVOLVING CERTAIN UNIONS

 COMPANIA DE TELEFONOS DE CHILE S.A.
 ANNOUNCES STRIKE INVOLVING CERTAIN UNIONS
 SANTIAGO, Chile, June 1 /PRNewswire/ -- Compania de Telefonos de Chile S.A. (NYSE: CTC) today announced that seven of its 17 labor unions have gone on strike effective today following the expiration of their two-year collective bargaining agreements yesterday. The striking unions represent approximately 63 percent of the company's non-executive personnel.
 Two unions covered by other collective bargaining agreements, which are scheduled to expire Aug. 31, 1992, are not involved in the strike. Additionally, eight unions signed a collective bargaining agreement prior to the opening of business today.
 Negotiations between the company and representatives of the striking unions are ongoing. Because 99.6 percent of the company's lines in service are connected to automatic exchanges, including 72 percent to digital exchanges, management believes that disruptions to telephone service should be minimal, assuming the strike is reasonably brief. However, no assurance can be given as to the outcome of the negotiations or the duration of the strike.
 Compania de Telefonos de Chile, the first South American company to list its shares on the New York Stock Exchange, is the largest telecommunications enterprise in Chile, owning approximately 95 percent of all telephone lines in the country. The company's business is providing local, long-distance and international telephone services in 77 percent of the country's territory where 92 percent of Chile's population resides. Additionally, the company operates a cellular network in two principal metropolitan areas of Chile, Santiago and Valparaiso.
 -0- 6/1/92
 /CONTACT: Jaime Charles, vice president of Compania de Telefonos de Chile, 011-562-696-1147, or Felicia Vonella of Dewe Rogerson, 212-688-6840, for Compania de Telefonos de Chile/
 (CTC) CO: Compania de Telefonos de Chile S.A. ST: IN: TLS SU:


CK-OS -- NY042 -- 5633 06/01/92 11:09 EDT
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Publication:PR Newswire
Date:Jun 1, 1992
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