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KIRBY CORPORATION ANNOUNCES REDEMPTION

 KIRBY CORPORATION ANNOUNCES REDEMPTION
 HOUSTON, Nov. 5 /PRNewswire/ -- Kirby Corporation ("Kirby")


(AMEX: KEX) announced today that its Board of Directors has authorized Kirby to purchase or redeem up to $25,000,000 aggregate principal amount of Kirby's $50 million 7-1/4 percent convertible subordinated debentures due 2014 ("7-1/4 percent debentures"). The 7-1/4 percent debentures are traded on NASDAQ under the symbol KEXDG and are convertible into the common stock of Kirby at any time prior to maturity at the conversion price of $11.125.
 The authorized purchases of the 7-1/4 percent debentures, if consummated, will be purchased on the NASDAQ and in privately negotiated transactions.
 Kirby is engaged, through its subsidiaries, in inland and offshore marine transportation, diesel repair and property and casualty insurance.
 -0- 11/5/92
 /CONTACT: Steve Holcomb of Kirby Corporation, 713-629-9370/
 (KEX) CO: Kirby Corporation ST: Texas IN: INS SU:


TS -- NY052 -- 3002 11/05/92 10:52 EST
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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:Nov 5, 1992
Words:156
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