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MOSLER INC. REFINANCING COMPLETE

 HAMILTON, Ohio, July 30 /PRNewswire/ -- A previously announced Mosler Inc. refinancing program was completed on July 29, 1993, with the issuance of $115,000,000 principal amount of its 11 percent Series A Senior Notes due 2003. Interest on the Senior Notes will accrue from July 29, 1993.
 Mosler has called for an Aug. 28, 1993, redemption of $80,000,000 principal amount of its 13-5/8 percent Senior Subordinated Debentures, due 1998, which represents the entire issue. A portion of the proceeds from the sale of the Senior Notes will be used to fund the redemption of the Senior Subordinated Debentures.
 Mosler has also completed an amendment to its existing bank loan agreement, and a partial payment of the outstanding indebtedness was made with a portion of the proceeds from the sale of the Senior Notes. As part of that amendment, the required principal amortization payments over the next three years were extended and various financial covenants were modified.
 The Mosler Inc. purchase of Security Control Systems, Inc. (doing business as LINX Technologies) of Chatsworth, Calif., was also successfully completed on July 29, 1993.
 Mosler Inc. (formerly The Mosler Safe Company) was founded in 1867 by Gustav Mosler and is based in Hamilton, Ohio. The company was family owned until 1962 when it became public. In 1967, it was acquired by American Standard Inc. On July 2, 1986, the formation of Mosler Inc. was announced as a private company owned by Mosler management, Mosler employees through an Employee Stock Ownership Plan and by Kelso & Company. Kelso & Company is a merchant banking firm specializing in buyout transactions.
 Mosler is a leading supplier of electronic security, currency handling and transaction systems to the financial and commercial/ industrial marketplaces. The company also supplies physical security products -- safes, vaults, GSA-approved security containers, etc. All systems and products are supported by the company's comprehensive service and installation organization strategically located in Mosler offices throughout the United States and the world.
 -0- 7/30/93
 /CONTACT: Sandra J. Sheffer, general counsel of Mosler Inc., 513-870-1005/


CO: Mosler, Inc. ST: Ohio IN: CPR SU: FIN

AR -- CL003 -- 7592 07/30/93 08:07 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
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