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HARMON ANNOUNCES CONVERSION OF DEBENTURE

 BLUE SPRINGS, Mo., Jan. 5 /PRNewswire/ -- Harmon Industries Inc. (NASDAQ: HRMN) announced today the conversion of $2.1 million of outstanding convertible debentures to equity, as of Dec. 31, 1992. Kansas Public Employee Retirement Fund (KPERS) exercised its rights by converting its debenture into 227,027 previously unissued shares of the common stock of Harmon Industries.
 "This transaction significantly improves our balance sheet as we move into 1993 by shifting more than $2 million of debt into equity," said Bjorn Olsson, president and chief operating officer of Harmon Industries.
 Harmon Industries Inc. is traded in the over the counter market and is quoted on the NASDAQ National Market System under the symbol HRMN. For further information, contact Charles M. Foudree, executive vice president-finance, Harmon Industries Inc., 1300 Jefferson Court, Blue Springs, MO 64015. The telephone number is 816-229-3345.
 -0- 1/5/93
 /CONTACT: Eric Morgenstern of Boasberg Valentine-Radford, 816-531-2100, for Harmon Industries/
 (HRMN)


CO: Harmon Industries Inc. ST: Missouri IN: SU:

KJ-JB -- DV006 -- 1890 01/05/93 16:20 EST
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Publication:PR Newswire
Date:Jan 5, 1993
Words:170
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