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NEWS CORPORATION LIMITED ANNOUNCES SALE OF PREFERENCE SHARES

 NEW YORK, July 23 /PRNewswire/ -- The News Corporation Limited (NYSE, AMEX: NCP; LSE: NEWCP) announced the sale by its wholly owned subsidiary Newscorp Overseas Limited of 10 million 8-5/8 percent Guaranteed Cumulative Preference Shares, Series A having a par value of US$25 per share. The aggregate price to the public for such shares will be US$250 million. The Preference Shares are guaranteed by The News Corporation Limited.
 The Preference Shares were underwritten by Merrill Lynch & Co. (which acted as lead manager), Allen & Company Incorporated, Oppenheimer & Co., Inc., PaineWebber Incorporated, Prudential Securities Incorporated and Shearson Lehman Brothers.
 The Preference Shares will be rated BBB- by Standard & Poor's Ratings Group and B1 by Moody's Investors Service. The proceeds will be used for general corporate purposes.
 -0- 7/23/93
 /CONTACT: Marcia Horowitz of Howard J. Rubenstein Associates, Inc., 212-489-6900, for The News Corporation/
 (NCP)


CO: The News Corporation Limited ST: New York IN: PUB ENT SU:

LG-MP -- NY022 -- 5037 07/23/93 09:59 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
Words:166
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