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NATIONAL INTERGROUP ANNOUNCES INCREASE IN NUMBER OF SHARES OF COMMON STOCK SOUGHT IN EXCHANGE OFFER

 DALLAS, Oct. 20 /PRNewswire/ -- National Intergroup, Inc. (NYSE:NII) announced today that it has increased the maximum number of shares of common stock that it will accept in its exchange offer to 8.5 million shares from 6 million shares. NII is offering to exchange one share of a new series of $4.20 Cumulative Exchangeable Series A Preferred Stock, which has a liquidation preference of $40.00, for each two shares of common stock tendered by its common shareholders. If more than 8.5 million shares of common stock are tendered for exchange, such shares will be accepted first from all holders of record of 99 shares or fewer shares and thereafter from all holders on a pro rata basis.
 All other terms and conditions of the exchange offer remain unchanged. The exchange offer is scheduled to expire at 12:00 midnight, New York City time, on Nov. 3, 1993.
 Georgeson & Company is acting as information agent in connection with the offer. Information on the exchange offer may be obtained by calling 800-223-2064.
 -0- 10/20/93
 /CONTACT: J. Warren Henry of National Intergroup, Inc., 214-446-4270/
 (NII)


CO: National Intergroup, Inc. ST: Texas IN: SU:

TM -- NY116 -- 4865 10/20/93 19:30 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
Words:205
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