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MARRIOTT RECEIVES FAVORABLE IRS RULING, SPECIAL DIVIDEND PLANNED FOR OCT. 8

 WASHINGTON, Sept. 28 /PRNewswire/ -- Marriott Corporation (NYSE: MHS) announced today that it has received a favorable ruling from the Internal Revenue Service that the company's planned special dividend will be tax-free. The company previously had declared the special dividend, subject to satisfaction of several conditions, including receipt of the IRS ruling.
 Marriott said its board of directors will meet on Sept. 29 to consider the status of the special dividend. If the board determines that the conditions for the special dividend are satisfied, the dividend will be distributed on Oct. 8 to shareholders of record at the close of business on Sept. 30, 1993. Company shareholders would receive one share of Marriott International, Inc., a lodging and services management company, for each share they own in Marriott Corporation. Marriott Corporation would be renamed Host Marriott Corporation, and would own hotels and retirement communities, and operate airport and tollroad concessions.
 Marriott said that the exchange offer for its outstanding notes and senior debentures is scheduled to expire on Oct. 7, 1993.
 -0- 9/28/93
 /CONTACT: Nick Hill of Marriott Corporation, 301-380-7484/
 (MHS)


CO: Marriott Corporation; Internal Revenue Service; Marriott
 International, Inc. ST: District of Columbia IN: FIN SU: DIV


MH-DC -- DC021 -- 6410 09/28/93 13:37 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
Words:208
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