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HARNISCHFEGER INDUSTRIES, INC. PRELIMINARY RESULTS OF SHARE REPURCHASE ANNOUNCED

 MILWAUKEE, April 22 /PRNewswire/ -- Harnischfeger Industries, Inc. (NYSE: HPH) announced today that a preliminary count by the depositary managing its "Dutch Auction" cash self-tender offer indicates that, subject to verification, 2.5 million shares tendered will be purchased, approximately 9 percent of common shares outstanding, and that the price at which it will purchase shares tendered will be $19-5/8. The shares to be purchased constitute approximately 90 percent of the shares tendered at prices of $19-5/8 and below and 53 percent of the total shares tendered. The numbers and prices set forth above are subject to verification in the final count, which is not expected to be completed for several days. Shares not purchased will be returned to shareholders as promptly as practicable.
 Harnischfeger Industries is a diversified international holding company that operates four subsidiaries involved in: papermaking machinery manufacturing (Beloit Corporation); surface mining and overhead material handling equipment manufacturing (Harnischfeger Corporation); and systems integration services (Harnischfeger Engineers, Inc. and Syscon Corporation).
 -0- 4/22/93
 /CONTACT: Francis M. Corby, Jr., senior vice president-finance and chief financial officer of Harnischfeger Industries, Inc., 414-797-6518/
 (HPH)


CO: Harnischfeger Industries, Inc. ST: Wisconsin IN: SU:

KD -- NY073 -- 9458 04/22/93 12:35 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:203
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