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DIAL PAGE INC. OFFERS SENIOR NOTES

 GREENVILLE, S.C., Feb. 4 /PRNewswire/ -- Dial Page, Inc. (NASDAQ-NMS: DPGE) announced the public offering today of $85 million principal amount of 12 1/4 percent senior notes due Feb. 15, 2000.
 The offering is being underwritten by Alex. Brown & Sons Inc. and The First Boston Corp. Simultaneous with the closing of this offering, Dial Page will enter into a $25 million revolving credit facility with Canadian Imperial Bank of Commerce, New York.
 Net proceeds of the offering, together with borrowings under the new credit facility, will be used to retire approximately $10 million of 25 percent subordinated notes due 1998, approximately $2 million of 10 percent notes due 1994, and the $73.8 million outstanding under the company's existing credit facility that had converted to a term loan.
 "This refinancing significantly improves our capital structure," said Dial Page President and Chief Executive Officer Jeffrey R. Hultman. "We have eliminated the uncertainty raised by our old credit agreement, which had to be refinanced by June 1994, and have added the stability of long-term debt. The borrowing availability under the new revolving credit facility will give us the capital resources to pursue our business plan.
 "The Company's strong 1992 financial results and acceptance of the Dial Page value-added strategy for paging contributed to the positive reception of this offering," Mr. Hultman added.
 Dial Page provides paging and messaging services in nine Southeastern states.
 -0- 2/4/93
 /CONTACT: Thomas A. Grina, Chief Financial Officer, Dial Page, Inc., 803-242-0234/
 (DPGE)


CO: Dial Page, Inc. ST: South Carolina IN: TLS SU:

MM -- CH005 -- 3224 02/04/93 17:15 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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