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HORN & HARDART RECEIVES CONSENTS TO LOWER CONVERSION PRICE ON 7-1/2 PERCENT CONVERTIBLE SUBORDINATED DEBENTURES

 HORN & HARDART RECEIVES CONSENTS TO LOWER CONVERSION PRICE
 ON 7-1/2 PERCENT CONVERTIBLE SUBORDINATED DEBENTURES
 WEEHAWKEN, N.J., Nov. 9 /PRNewswire/ -- The Horn & Hardart Company (AMEX: HOR) announced today that it has received the consents of the holders of a majority in principal amount of its outstanding 7-1/2 percent convertible subordinated debentures due 2007 to an amendment to the indenture governing such debentures. The amendment will become effective upon the execution of a supplemental indenture amending the indenture governing such debentures. Upon the effectiveness of the amendment, through 5 p.m., eastern standard time, Dec. 4, 1992, holders of the debentures will be able to convert the debentures into shares of the company's common stock at a conversion price of $3.333 per share rather than at the current conversion price of $10.31 per share. After Dec. 4, 1992, the conversion price will return to $10.31 per share.
 Horn & Hardart, through its Hanover Direct subsidiary, is one of the largest specialty direct marketers in the U.S. It publishes catalogs in home furnishings, general merchandise and women's and men's fashion.
 -0- 11/9/92
 /CONTACT: Michael P. Sherman, executive vice president, 201-319-3403, or Wayne P. Garten, executive vice president, 201-319-3452, both of the Horn & Hardart Company; or Gregory William Miller of Robinson, Lake, Lerer & Montgomery, 212-484-7404, for Horn & Hardart/
 (HOR) CO: Horn & Hardart Company ST: New Jersey IN: REA SU:


SH-AH -- NY060 -- 8688 11/09/92 11:56 EST
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Publication:PR Newswire
Date:Nov 9, 1992
Words:242
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