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FLEET AEROSPACE, INC. HOLDS SPECIAL MEETING

 TORONTO, March 17 /PRNewswire/ -- On March 11, 1993, a special meeting of the holders of Fleet Aerospace Inc.'s (NASDAQ: FLAI) 10 percent Cumulative Reset Preferred Stock was held for the purpose of electing two directors to the board by the preferred stockholders. The company in pleased to announce that the preferred stockholders elected Mr. James E. Wiggins and Mr. John W. Wolcott, III to the board to serve until the next annual meeting.
 Also the company announced that the board of directors of Fleet Aerospace, Inc., has decided not to declare and pay the cash dividend on the company's 10 percent Cumulative Reset Preferred Stock due March 31, 1993.
 The omission of the dividend is deemed necessary by the board in order for the company to conserve cash and continue its program of debt reduction.
 -0- 3/17/93
 /CONTACT: L. Dale Foster, secretary & treasurer of Fleet Aerospace, Inc., 416-365-0565/
 (FLAI)


CO: Fleet Aerospace, Inc. ST: Ontario IN: ARO SU:

SM -- NY087 -- 7183 03/17/93 17:18 EST
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Publication:PR Newswire
Date:Mar 17, 1993
Words:170
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