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LSB INDUSTRIES, INC. ANNOUNCES $49 MILLION LETTER OF INTENT WITH FOREIGN CUSTOMER

 OKLAHOMA CITY, May 5 /PRNewswire/ -- LSB Industries, Inc. (AMEX: LSB), announced today that its Environmental Control subsidiary has signed a letter of intent to supply a customer in the former Soviet Union with equipment to manufacture environmental control products. The letter of intent is subject to the execution of a definitive agreement between the parties.
 Jack E. Golsen, board chairman, stated that if a definitive agreement is completed, the LSB subsidiary will be supplying the foreign customer with licenses, designs, tooling, machinery, equipment, technical information, proprietary know-how, and technical services. This transaction will be for a total sales price of $49 million. Golsen further stated that the subsidiary of LSB has agreed that, in lieu of cash, it will take payment in kind of anhydrous ammonia (NH3) from the foreign customer at the foreign customer's option. LSB's chemical business is a major user of anhydrous ammonia. If a definitive agreement is consummated, revenues from this project are expected to be realized in 1994 and 1995. It is anticipated that a definitive agreement will be finalized during 1993.
 LSB is a diversified company engaged in a variety of manufacturing, engineering, marketing and financial service activities on a worldwide basis. LSB's principal business activities consist of the manufacture and sale of chemical products for the explosives, agricultural and industrial markets, commercial and residential air conditioning products, automotive and industrial products and the financial services business. LSB's common stock and debentures are listed for trading on the American Stock Exchange.
 -0- 5/5/93
 /CONTACT: Tony M. Shelby, chief financial officer of LSB, 405-235-4546/
 (LSB)


CO: LSB Industries, Inc. ST: Oklahoma IN: ENV SU: CON

GK -- NY044 -- 4831 05/05/93 11:24 EDT
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Publication:PR Newswire
Date:May 5, 1993
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