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EDISTO ANNOUNCES 11TH REDEMPTION OF PREFERRED SHARES

 EDISTO ANNOUNCES 11TH REDEMPTION OF PREFERRED SHARES
 DALLAS, Jan. 28 /PRNewswire/ -- Edisto Resources Corporation


(AMEX: EDS) announced today that on Feb. 15, 1992, it would redeem 208,083 shares of its $2.60 senior cumulative preferred stock (AMEX: EDS pr) for common stock of Edisto.
 Certificates to be redeemed were selected by lot from registered holders as of Jan. 27, 1992. Holders of certificates selected for redemption will be notified by Edisto in early February. Approximately 3,232,357 shares of common stock will be issued to meet redemption obligations for this quarter. Cash will be paid in lieu of issuing fractional shares.
 The final mandatory quarterly redemption of 208,087 preferred shares will occur on May 15, 1992. Preferred stock may be redeemed, at the option of Edisto, in either common stock, cash or any combination thereof, at a price equal to $20 per share.
 Edisto Resources Corporation's consolidated activities include the production of oil and gas, the exploration and development of oil and gas reserves and natural gas marketing and transportation.
 -0- 1/28/92
 /CONTACT: Gary L. Pittman, VP-financial services, 214-880-0243, or Jeanie Brennan, manager-stockholder communications, 214-880-9318, both of Edisto/
 (EDS) CO: Edisto Resources Corporation ST: Texas IN: OIL SU:


CK -- NY092 -- 4428 01/28/92 17:02 EST
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Publication:PR Newswire
Date:Jan 28, 1992
Words:212
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