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MERCURY AIR GROUP TO REDEEM PREFERRED STOCK

 LOS ANGELES, Dec. 6 /PRNewswire/ -- The board of directors of Mercury Air Group Inc. (AMEX: MAX, MAX.WS.A., MAX.PR.A) announced the redemption of its Series A 8 Percent Cumulative Redeemable Convertible Preferred Stock. Following the close of business on Jan. 28, 1994, holders will be entitled to receive $10.00 plus accrued dividends in the amount of $.33 per share. Other than the right to receive the redemption price, after the redemption date holders of Series A Preferred Stock will have no further rights as securities holders of Mercury. After the redemption date, shares of Series A Preferred Stock cannot be converted into shares of Mercury's Common Stock. Prior to the redemption date, each share of Series A Preferred Stock can be converted into four shares of Common Stock. Mercury will mail a notice to holders of the Series A Preferred Stock describing the redemption and conversion procedures to be followed.
 Mercury's board of directors also announced that it has sought and received the permission of its secured lender to finance the redemption under its existing lines of credit.
 Mercury Air Group is a leading provider of cargo and passenger aviation services to international and domestic commercial airlines, general aviation and U.S. government aircraft. Based at Los Angeles International Airport (LAX), Mercury operates air centers at four locations in California and one location in Nevada.
 -0- 12/6/93
 /CONTACT: Randy Ajer, CFO of Mercury Air Group., 310-646-2994 or 310-215-5729/
 (MAX)


CO: Mercury Air Group ST: California IN: AIR SU:

MF-EH -- LA004 -- 0622 12/06/93 09:01 EST
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Publication:PR Newswire
Date:Dec 6, 1993
Words:263
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