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NAVISTAR ANNOUNCES COMMON STOCK OFFERING

 CHICAGO, Oct. 14 /PRNewswire/ -- Navistar International Corporation (NYSE: NAV) announced today its public offering of 22 million shares of common stock priced at $21.875 per share.
 The company will realize gross proceeds of approximately $481 million from the stock offering. In addition, the company granted the underwriting group an over-allotment option of 1.6 million shares, which if exercised in full, would raise the total gross proceeds to approximately $516 million.
 Navistar plans to use $300 million of the proceeds to pre-fund the company's obligations for postretirement health care benefits, and the company will use the remaining proceeds for working capital purposes.
 CS First Boston, Lehman Brothers and J.P. Morgan Securities Inc. are the managers of the offering of 17.6 million shares in the U.S. and Canada, and CS First Boston, Lehman Brothers, J.P. Morgan Securities Ltd., and Swiss Bank Corporation are the lead managers of the international offering of 4.4 million shares.
 Upon completion of this offering, the company will have approximately 73 million shares of common stock outstanding.
 Navistar is the North American market share leader in medium and heavy trucks and school bus chassis, and is a worldwide leader in the production of mid-range diesel engines.
 -0- 10/14/93
 /CONTACT: Maril MacDonald of Navistar, 312-836-3240/
 (NAV)


CO: Navistar International Corporation ST: Illinois IN: AUT SU: OFR

LD -- NY100 -- 2525 10/14/93 19:17 EDT
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Publication:PR Newswire
Date:Oct 14, 1993
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