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HADSON ANNOUNCES MODIFICATION TO RESTRUCTURING PLAN

 HADSON ANNOUNCES MODIFICATION TO RESTRUCTURING PLAN
 OKLAHOMA CITY, Aug. 5 /PRNewswire/ -- Hadson Corporation (NYSE: HAD)


today announced that it has filed with the Securities and Exchange Commission supplemental proxy materials related to its plan of reorganization currently being voted upon by its creditors and stockholders.
 The modifications to the plan call for holders of Hadson's 7-3/4 percent Convertible Subordinated Debentures to receive, in addition to 8 percent Junior Cumulative Preferred Stock, warrants to purchase an aggregate 12 million additional shares of Hadson's common stock at a price of $1.25 per share. The warrants would be exercisable during certain time periods each year through 1997. Hadson would issue 400 warrants for each $1,000 debenture.
 In addition, the modifications provide that the 8 percent Junior Cumulative Convertible Preferred Stock will automatically convert into common stock at the rate of $1 per share when the common stock trades at $1.75 per share for a specified period of time, rather than $1.25 per share. All other terms of the plan remain unchanged.
 Hadson Corporation is an independent producer and supplier of energy products and services. Hadson has continuing operations in natural gas and gas liquids through its subsidiary, Hadson Energy Products and Services, Inc. (HEPSI). HEPSI is not a party to Hadson Corporation's debt agreements and will not be a party to Hadson's bankruptcy proceedings.
 -0- 8/5/92
 /CONTACT: J. Michael Adcock, president and chief operating officer, of Hadson Corporation, 405-235-9531/
 (HAD) CO: Hadson Corporation ST: Oklahoma IN: OIL SU: RCN


LR -- NY077 -- 7229 08/05/92 15:58 EDT
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Date:Aug 5, 1992
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