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GRACE INCREASES OWNERSHIP OF NOXSO

 GRACE INCREASES OWNERSHIP OF NOXSO
 BETHEL PARK, Pa., June 9 /PRNewswire/ -- NOXSO Corporation


(NASDAQ: NOXO) today announced that W.R. Grace & Co. (NYSE: GRA) increased its ownership in the company to 17.9 percent.
 W.R. Grace & Co. increased its ownership from 16.8 percent by purchasing 151,386 newly issued shares for $170,839 pursuant to an option agreement that remains in effect through 1993. The purchase brings Grace's holding to 1,286,164 shares.
 The option agreement allows Grace to purchase an additional 706,464 shares at an aggregate cost of $798,531, which would bring its ownership in NOXSO to approximately 26 percent.
 NOXSO Corporation is committed to the commercialization of the NOXSO Process, a dry process which simultaneously removes over 90 percent of sulfur dioxide and nitrogen oxides, the pollutants which cause acid rain, from flue gas emitted by coal-fired power plants.
 -0- 6/9/92
 /CONTACT: Robert Long of NOXSO, 412-854-1200, or Chuck Suits of W.R. Grace & Co., 800-GRACE-99, or Thomas Redington of Redington, Inc., 203-222-7399, or 212-926-1733, for NOXSO/
 (NOXO GRA) CO: NOXSO Corporation; W.R. Grace & Co. ST: Pennsylvania, New York IN: CHM SU: TNM


CK-OS -- NY023 -- 8274 06/09/92 10:07 EDT
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Publication:PR Newswire
Date:Jun 9, 1992
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