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IDEX ANNOUNCES 9-3/4 PERCENT RATE ON $75,000,000 SENIOR SUBORDINATED NOTE ISSUE

 IDEX ANNOUNCES 9-3/4 PERCENT RATE ON $75,000,000
 SENIOR SUBORDINATED NOTE ISSUE
 NORTHBROOK, Ill., Sept. 16 /PRNewswire/ -- IDEX Corp. (NYSE: IEX) today announced that the interest rate on its previously announced offering of $75,000,000 in senior subordinated notes due in 2002 had been set at 9-3/4 percent. Proceeds from the offering will be used to decease in-substance the currently outstanding $50,000,000 issue of 15-3/8 percent notes prior to their call on Jan. 15, 1993, and to reduce bank debt. The company said that upon completion of the offering, it was expected that its interest costs would be reduced by approximately $1.2 million per annum, and that an increase in annual earnings per share of approximately 6 cents would result.
 IDEX Corp. is a manufacturer of proprietary fluid handling and industrial products with leading positions in niche markets. Its engineered products are sold to a wide range of industries. IDEX shares are traded on the New York Stock Exchange under the symbol IEX.
 -0- 9/16/92
 /CONTACT: Wayne P. Sayatovic, vice president finance, of IDEX Corp., 708-498-7070, or Audrey Lowe or Nick Farina, 312-266-7900, or Lillian Armstrong, 415-986-1591, all of The Financial Relations Board, for IDEX Corp./
 (IEX) CO: IDEX Corp. ST: Illinois IN: MTC SU:


LD -- NY075 -- 0405 09/16/92 21:20 EDT
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Publication:PR Newswire
Date:Sep 16, 1992
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