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MCN FILES SHELF REGISTRATION STATEMENTS

DETROIT, March 8 /PRNewswire/ -- MCN Corporation (NYSE: MCN) today announced the filing with the Securities and Exchange Commission of a $302.8 million universal shelf registration statement which, combined with a previously filed shelf registration statement, provides for the issuance of up to $400 million of equity and debt securities. MCN also announced the filing by its MCN Investment Corporation subsidiary of a $500 million shelf registration statement for the issuance of debt securities.

Securities registered under the MCN registration statement include trust originated preferred securities, common stock convertible securities, debt and common stock. The MCN Investment Corporation registration statement anticipates the issuance of medium term notes.

Proceeds from the sale of the securities are expected to be used for general corporate purposes including capital expenditures, investment in subsidiaries, working capital, repayment of debt and other business opportunities.

MCN Corporation is a $2.9 billion (assets) diversified natural gas holding company with gas markets and investments throughout North America. Its principal subsidiaries are Michigan Consolidated Gas Company (MichCon), a natural gas distribution and transmission company serving 1.2 million customers in more than 500 communities throughout Michigan, and MCN Investment Corporation (MCNIC). MCNIC owns subsidiaries involved in exploration and production, gas marketing, cogeneration, gas storage, gathering and processing; and The Genix Group, a computer operations management firm.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 -0- 3/8/96


/CONTACT: Tom Connelly of MCN, 313-256-6701/

(MCN)

CO: MCN Corporation ST: Michigan IN: OIL UTI SU:

SC -- DEF016 -- 1629 03/08/96 13:33 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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