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DETROIT EDISON TO REDEEM OUTSTANDING SHARES OF STOCK

 DETROIT, Nov. 24 ~PRNewswire~ -- The Detroit Edison Company (NYSE: DTE) announced today that on Jan. 15, 1993, it will redeem all of the remaining outstanding shares of its $2.75 Series B Preference Stock at $25 per share and 60,000 shares of its 9.72 percent Series Preferred Stock at $100 per share. The redemptions will be through the operation of sinking funds established for both securities at the time of original issuance. In each case, dividends at the rate established for each series accrued to the date of redemption will be paid separately.
 On or about Dec. 15, 1992, the company will send information to holders of the 9.72 percent Series Preferred Stock who have shares selected for redemption and to all holders of the $2.75 Series B Preference Stock.
 Shares of the 9.72 percent Series Preferred Stock to be redeemed will be selected randomly from certificates representing shares belonging to shareholders of record at the close of business Dec. 7, 1992.
 Payment for all securities to be redeemed will be made by the company on or after Jan. 15, 1993. The $2.75 Series B Preference shares redeemed will be canceled and will have the status of authorized but unissued shares. Shares of the 9.72 percent Series Preferred Stock redeemed will be canceled and may not be reissued.
 -0- 11~24~92
 ~CONTACT: Lorie N. Kessler, 313-237-8807, or Mary Kay Bean, 313-237-8809, both of Detroit Edison Company~
 (DTE)


CO: Detroit Edison Company ST: Michigan IN: UTI SU:

SM -- DE037 -- 1275 11~24~92 17:07 EST
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Publication:PR Newswire
Date:Nov 24, 1992
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