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DETROIT & CANADA TUNNEL CORPORATION ANNOUNCES OFFER TO PURCHASE SHARES

DETROIT & CANADA TUNNEL CORPORATION ANNOUNCES OFFER TO PURCHASE SHARES
 DETROIT, May 11 /PRNewswire/ -- Detroit & Canada Tunnel Corporation (NASDAQ: DTUN) announced today that it will make an issuer tender offer to purchase up to 150,000 shares, approximately 21 percent of its outstanding common stock, at a price of $29 per share. The closing bid price as reported on NASDAQ today (Monday, May 11, 1992) was $22 per share.
 The offer will expire on Monday, June 15, 1992, at 5 p.m. Eastern Daylight Time, unless extended by the company. Shareholders may, at their own discretion, tender their common stock at a price of $29 per share (no commission charged) or continue to hold their common stock.
 Neither the company nor its directors are making any recommendation to any shareholder as to whether to tender or refrain from tendering shares. None of the directors or executive officers of the company are tendering shares.
 The Offer to Purchase, which describes the tender offer in greater detail, is being mailed to the company's shareholders.
 Detroit & Canada Tunnel Corporation operates the Detroit-Windsor Tunnel beneath the Detroit River connecting the cities of Detroit and Windsor, Ontario.
 -0- 5/11/92
 /CONTACT: Donald M. Vuchetich, president, Detroit & Canada Tunnel Corporation, 313-567-4422/
 (DTUN) CO: Detroit & Tunnel Corporation ST: Michigan IN: TRN SU: OFR


JG -- DE026 -- 8827 05/11/92 17:16 EDT
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Publication:PR Newswire
Date:May 11, 1992
Words:225
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