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NATIONAL EDUCATION CORP. ANNOUNCES INITIAL PUBLIC OFFERING OF STECK-VAUGHN

 IRVINE, Calif., July 16 /PRNewswire/ -- J.W. Cwiertnia, president and chief executive officer of National Education Corp., today announced the initial public offering of 2,320,000 shares of the common stock of the company's Steck-Vaughn Publishing Corp. subsidiary. He said that National Education will continue to own approximately 80 percent of the outstanding common stock of Steck-Vaughn.
 Cwiertnia added that Steck-Vaughn shares were issued at $12.00 per share and will be traded on NASDAQ under the symbol STEK. He said that the offering was made through an underwriting group managed by Robertson, Stephens & Co. L.P. and Hambrecht & Quist Inc.
 Steck-Vaughn is one of the nation's largest publishers of supplemental education materials used in elementary, secondary and adult education. In addition, Steck-Vaughn also has a growing presence in the children's library market.
 -0- 7/16/93
 /CONTACT: Corporate Communications of National Education, 714-474-9400/


CO: National Education Corp.; Steck-Vaughn Publishing Corp. ST: California IN: PUB SU: OFR

MF-LM -- LA006 -- 2373 07/16/93 10:01 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
Words:167
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