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HADSON SETTLES DISPUTE WITH U.S. ARMY

 OKLAHOMA CITY, Sept. 30 /PRNewswire/ -- Hadson Corporation (NYSE: HAD) today announced that it has reached agreement with the U.S. Army to resolve all disputes regarding the May 1990 termination by the Army of a contract between the Army and Hadson's former defense contracting subsidiary. Pursuant to the settlement 1) each party will release all claims against the other relating to the contract, 2) approximately $1.7 million in contract payments held by the Army and related to other government contracts will be released to Hadson and 3) the Army will make an additional payment to Hadson which will amount to approximately $5.3 million, after expenses.
 Hadson Corporation is an independent producer and supplier of energy products and services. Hadson has continuing operations and in natural gas and gas liquids through its subsidiary Hadson Energy Products and Services, Inc. ("HEPSI").
 -0- 9/30/93
 /CONTACT: J. Michael Adcock, president and chief operating officer of Hadson Corporation, 405-235-9531/
 (HAD)


CO: Hadson Corporation ST: Oklahoma IN: OIL ARO SU:

MP -- NY037 -- 7228 09/30/93 11:13 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
Words:177
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