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ECOLAB CALLS REMAINING $75 MILLION OF 10-3/8 PERCENT DEBENTURES

 ST. PAUL, Minn., June 17 /PRNewswire/ -- Ecolab (NYSE: ECL) announced it has provided notice to call the remaining $75 million of its 10-3/8 percent debentures, due 1998-2017. Ecolab will use proceeds from the sale of its discontinued ChemLawn business and cash flow from operations to fund the retirement of these debentures. The company will record an extraordinary nonoperating charge of $4.0 million after-tax, or $0.13 per share, in its second quarter ending June 30 related to the early retirement. This will result in no impact on income from ongoing operations.
 Ecolab Vice Chairman, Chief Financial and Administrative Officer Michael E. Shannon commented, saying, "The retirement of the 10-3/8 percent debentures represents an important part of our continuing program to reduce debt and strengthen our balance sheet. Ecolab's repayment of $173 million of debt in 1992 has already substantially reduced our interest expense, and this debt retirement will yield significant additional interest savings. Following the retirement of the 10-3/8 percent debentures, Ecolab's total debt will represent approximately 34 percent of total capitalization, and is another step toward the attainment of our corporate financial objective of an `A' rated balance sheet. "We will continue to use our strong cash flow to support our business growth, further strengthen our financial position and provide additional value for our shareholders."
 Ecolab is the leading worldwide developer and marketer of premium cleaning, sanitizing and maintenance products and services for the hospitality, institutional and industrial markets. For the year ended Dec. 31, 1992, Ecolab reported sales of $1 billion and earnings per share from continuing operations of $64 million, or $2.05 per share. Ecolab shares are traded on the New York Stock Exchange and the Pacific Stock Exchange under the symbol ECL.
 -0- 6/17/93
 /CONTACT: Michael J. Monahan of Ecolab, 612-293-2809/
 (ECL)


CO: Ecolab ST: Minnesota IN: CHM SU:

AL -- MN006 -- 2996 06/17/93 10:17 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
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