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CONTROL DATA WILL REDEEM ITS 4-1/2 PERCENT CUMULATIVE PREFERRED STOCK

CONTROL DATA WILL REDEEM ITS 4-1/2 PERCENT CUMULATIVE PREFERRED STOCK
 MINNEAPOLIS, May 27 /PRNewswire/ -- In connection with Control Data Corporation's (NYSE: CDA) announcement today that it intends to incorporate its Control Data Systems computer business and spin off the new entity to Control Data Corporation stockholders as a stock dividend, the company also announced that, immediately prior to the spin-off transaction, it intends to call for the redemption of its 4-1/2 percent cumulative preferred stock. Funds for the redemption, plus accrued interest, will be irrevocably deposited in trust by the company prior to the spin-off. Redemption would occur at the stated redemption price of $100 per share, and stockholders will receive payment for the stock following the spin-off.
 -0- 5/27/92
 /CONTACT: Nancy Foltz of Control Data Corporation, 612-853-5229; or Charlotte Fransen of Control Data Systems, 612-482-4857/
 (CDA) CO: Control Data Corporation, Control Data Systems, Inc. ST: Minnesota IN: CPR SU:


KH -- MN003 -- 4085 05/27/92 08:37 EDT
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Publication:PR Newswire
Date:May 27, 1992
Words:163
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