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DATAPOINT TO EXCHANGE OUTSTANDING SHARES OF $4.94 EXCHANGEABLE PREFERRED STOCK

 DATAPOINT TO EXCHANGE OUTSTANDING SHARES
 OF $4.94 EXCHANGEABLE PREFERRED STOCK
 SAN ANTONIO, Texas, May 21 /PRNewswire/ -- Datapoint Corporation (NYSE: DPT) today announced that on June 9, 1992, it will exchange on a mandatory basis each outstanding share of the company's $4.94 exchangeable preferred stock. Pursuant to the terms governing the $4.94 exchangeable preferred stock, which were recently amended in connection with the consummation of the company's exchange offer for such stock, each outstanding share of $4.94 exchangeable preferred stock not tendered in the exchange offer will be exchanged (inclusive of accumulated dividends) for 0.75 of a share of its $1.00 Preferred Stock and two shares of Datapoint common stock.
 Datapoint had announced previously that it would undertake the mandatory exchange of its $4.94 Exchangeable Preferred Stock after consummation of the exchange offer for such stock, and under the terms of the exchange offer, the company required tendering holders of $4.94 Exchangeable Preferred Stock to vote to amend the terms of such stock to permit the mandatory exchange.
 On the exchange date, the rights of the holders of $4.94 exchangeable preferred stock as such shall cease and the person entitled to receive Datapoint's $1.00 preferred stock and the common stock issuable upon the exchange shall have the rights of any other holder of such securities.
 Datapoint's common stock and the $1.00 preferred stock are both listed on the New York Stock Exchange.
 Datapoint, a leader in networking information technology-- information processing, personal computing, telephone services, and video conferencing--markets its products and services in 42 countries worldwide as part of its Open Systems Networking (OSN) strategy.
 NOTE: Datapoint and the "D" logo are registered trademarks of Datapoint Corporation.
 -0- 5/21/92
 /CONTACT: G. Ross Laughead of Datapoint, 512-593-7504/
 (DPT) CO: Datapoint Corporation ST: Texas IN: CPR SU:


KD -- NY088 -- 2982 05/21/92 15:22 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 21, 1992
Words:316
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