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MCI ANNOUNCES DEBENTURE REDEMPTION

 WASHINGTON, April 29 /PRNewswire/ -- MCI Communications Corporation (NASDAQ-NMS: MCIC) today announced that it intends to redeem on May 14, 1993, $135 million principal amount of its 10 percent subordinated debentures due April 1, 2011. The redemption price for the 10 percent debentures will be 108 percent of the principal amount thereof, for an aggregate redemption price of $145.8 million, plus accrued interest. The company will fund the redemption using segregated cash from its operations and earnings during the quarter ended March 31, 1993. Reflecting strong cash flow, MCI intends to segregate cash from operations and earnings throughout 1993 to fund further partial redemptions of the 10 percent debentures. After May 14, 1993, approximately $292 million principal amount of the 10 percent debentures will remain outstanding.
 The early retirement will result in an extraordinary charge of approximately $9 million after tax that will be recorded in MCI's second quarter. The transaction is anticipated to result in substantial future savings in interest expense.
 -0- 4/29/93
 /CONTACT: MCI Corporation News Bureau, 800-289-0073 or 202-887-3000/
 (MCIC)


CO: MCI Communications Corporation ST: District of Columbia IN: TLS SU:

TW -- DC013 -- 2595 04/29/93 11:09 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
Words:195
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