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ITW REDEEMS ZERO COUPON DEBENTURES DUE 2005

 ITW REDEEMS ZERO COUPON DEBENTURES DUE 2005
 GLENVIEW, Ill., June 9 /PRNewswire/ -- On June 5, Illinois Tool


Works Inc. (NYSE: ITW) announced that it elected to redeem all of the company's outstanding zero coupon convertible subordinated debentures due 2005 on July 7, 1992, at a redemption price of $457.60 (issue price plus accrued interest) per each $1,000 principal amount at maturity thereof.
 On July 7, 1992, the debentures will become due and payable at the redemption price above and payment will be made in U.S. dollars upon presentation and surrender of the debentures at the office of:
 Morgan Guaranty Trust Company of New York
 Corporate Trust Operations Department
 Tellers and Mail Unit
 55 Exchange Place
 Basement A
 New York, N.Y. 10260-0023
 At each holder's option, the debentures may be converted into shares of common stock of ITW at the rate of 6.512 shares per each $1,000 principal amount at maturity of the debentures, or ITW may elect to pay the holder an amount in cash equal to the conversion market price.
 Unless the company defaults in making such redemption payment, the original issue discount shall cease to accrue on the debentures on and after July 7, 1992.
 -0- 6/9/92
 /CONTACT: Mike Gregg of Illinois Tool Works, 708-657-4061/
 (ITW) CO: Illinois Tool Works Inc. ST: Illinois IN: SU:


PS -- NY077 -- 8620 06/09/92 20:14 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 9, 1992
Words:234
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