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JUDGMENT ENTERED IN EXCHANGE OFFER SUIT

 DALLAS, Oct. 21 /PRNewswire/ -- The Supreme Court of the State of Delaware has affirmed an earlier judgment of the Delaware Chancery Court against ENSERCH Corporation and others ordering additional consideration of $3.42 per unit to be paid to those who exchanged their units in Enserch Exploration Partners, Ltd., a Texas limited partnership, for stock in ENSERCH Corporation, pursuant to a Sept. 14, 1989, exchange offer.
 ENSERCH Corporation's 1993 earnings are expected to be impacted negatively by about $4.3 million ($6.6 million pretax), or $.06 per share. The court's award includes some $41 million additional consideration and approximately $21 million of prejudgment and postjudgment interest. The $41 million additional consideration will be added to the capitalized cost of the oil and gas properties acquired in the exchange and will be amortized over future production. After this addition, the margin between the Securities and Exchange Commission's prescribed cost-center ceiling under the full-cost accounting method, which is used by ENSERCH Corporation, and the amortized capitalized costs of ENSERCH's oil and gas properties was about $47 million at Sept. 30, 1993.
 A reserve of some $15 million for prejudgment interest was established in 1992, and the remaining $5.6 million will be charged to interest expense in third-quarter business.
 ENSERCH intends to file with the court a motion for reargument.
 NOTE TO EDITORS: Correct styles are ENSERCH Corporation, Enserch Exploration Partners, Ltd. and Enserch Exploration, Inc.:|{nq@r
 -0- 10/21/93
 /CONTACT: Crystal Bell, ENSERCH Corporation, 214/670-2528/


CO: Enserch Corporation ST: Texas IN: OIL SU:

DH -- NY035 -- 5185 10/21/93 11:59 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
Words:265
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