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DRS INDUSTRIES ANNOUNCES COURT RULING FOR SUBSIDIARY

 NEW YORK, Nov. 23 ~PRNewswire~ -- DRS Industries, Inc. (NASDAQ: DRSS DRSSU) today announced that the bankruptcy court has approved debtor-in- possession financing for its subsidiary C-B~Murray Corporation which filed for Chapter 11 protection on Nov. 18.
 John A. Selzer, CEO, stated that DRS is providing the funds as prescribed by a budget. Approximately $1,300,000 has been provided to C-B~Murray to date. DRS anticipates that $3 million will be raised.
 The terms of DRS' private placement have been modified so as to eliminate the stock of DRS' subsidiary, Diversified Retail Services, Inc. as collateral to the private placement.
 -0- 11~23~92
 ~CONTACT: John A. Selzer of DRS Industries, 212-980-9670~
 (DRSS)


CO: DRS Industries, Inc. ST: New York IN: SU:

TS-AH -- NY046 -- 0552 11~23~92 12:40 EST
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Publication:PR Newswire
Date:Nov 23, 1992
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