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MARRIOTT SHAREHOLDERS RATIFY SPECIAL DIVIDEND

 WASHINGTON, July 23 /PRNewswire/ -- Shareholders at Marriott Corporation's (NYSE: MHS) annual meeting today approved by an overwhelming margin the company's proposed special dividend transaction.
 Under the special dividend, shareholders will receive a share of Marriott International, Inc., a subsidiary of the company, for every common share they hold in Marriott Corporation. After the special dividend, Marriott Corporation will be renamed Host Marriott Corporation. Marriott International will provide lodging management and contract services. Host Marriott will own 139 hotels and 14 retirement communities, and will operate food, beverage and merchandise concessions at airports and on tollroads.
 Marriott Corporation said its board of directors will meet this afternoon to consider further action on the transaction. The special dividend is conditioned upon, among other things, receipt of a favorable ruling from the Internal Revenue Service that the dividend will be tax- free.
 Marriott said that, if all goes according to plan, the company expects to complete the special dividend distribution in September 1993.
 -0- 7/23/93
 /CONTACT: Robert Souers of Marriott, 301-380-1339/
 (MHS)


CO: Marriott Corporation ST: District of Columbia IN: LEI SU: DIV

DC-MH -- DC024 -- 5195 07/23/93 13:31 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
Words:191
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