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LTV ANNOUNCES ADJUSTMENT OF SETTLEMENT AGREEMENT WITH PENSION BENEFIT GUARANTY

 DALLAS, Nov. 20 ~PRNewswire~ -- In response to news media inquiries, the LTV Corporation (NYSE: QLTV) today confirmed that LTV and the Pension Benefit Guaranty Corporation have agreed to adjust the settlement agreement under which the company will amortize its unfunded pension liability.
 Under the agreement, LTV will make an initial contribution of at least $850 million in cash, plus common stock, to three steel pension plans upon confirmation of a Chapter 11 plan of reorganization. Cash to be realized from various non-core assets will also be contributed to the pension plans.
 The remainder of the $3 billion liability will be funded by means of fixed annual payments and a percentage of cash flow over a period of 27 years following the company's emergence from Chapter 11.
 -0- 11~20~92
 ~CONTACT: Charles M. Palmer of LTV Corporation, 214-979-7941~
 (LTV)


CO: LTV Corporation; Pension Benefit Guaranty Corporation ST: Texas IN: ARO SU:

CK -- NY058 -- 3570 11~20~92 17:18 EST
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Publication:PR Newswire
Date:Nov 20, 1992
Words:160
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