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CONTINENTAL, INC. BOARD AUTHORIZES CALL FOR REDEMPTION OF REMAINING SHARES OF 10-PERCENT SENIOR PREFERRED STOCK

 CONTINENTAL, INC. BOARD AUTHORIZES CALL FOR REDEMPTION
 OF REMAINING SHARES OF 10-PERCENT SENIOR PREFERRED STOCK
 LIVONIA, Mich., Dec. 10 /PRNewswire/ -- Continental, Inc. (PHLX: COI Preferred Stock) announced today that the board of directors has authorized the company to call for redemption the remaining shares of Continental, Inc. 10-percent Senior Preferred Stock. The effective date of the redemption will be Dec. 16, 1991.
 The redemption is made in conjunction with an amendment to Continental's Restated Certificate of Incorporation which authorizes the procedure. As provided in the amended Certificate, the redemption price will consist of $20 per share plus accumulated and unpaid dividends of $.42 per share through and including the redemption date. The notice of redemption will be distributed to record holders of Senior Preferred Stock in the near future.
 Continental, Inc. is a Delaware corporation which, through its subsidiaries, is now primarily engaged in the purchase and leasing of real estate and computer equipment, financial services and lease brokerage business.
 -0- 12/10/91
 /CONTACT: Todd Pichette of Continental, Inc., 313-478-4100/
 (COI) CO: Continental, Inc. ST: Michigan, Delaware IN: SU:


SM -- DE015 -- 1096 12/10/91 14:34 EST
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Publication:PR Newswire
Date:Dec 10, 1991
Words:189
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