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PACIFIC SCIENTIFIC ANNOUNCES REDEMPTION OF OUTSTANDING PREFERRED STOCK

PACIFIC SCIENTIFIC ANNOUNCES REDEMPTION OF OUTSTANDING PREFERRED STOCK
 NEWPORT BEACH, Calif., Feb. 27 /PRNewswire/ -- Pacific Scientific Co. (NYSE: PSX) today announced that its board of directors voted to redeem the remaining outstanding shares of the company's Series B Preferred Stock.
 Currently, there are approximately 175,000 Series B Preferred Stock outstanding and the company will redeem the stock under its call option at $10 per share plus accrued and unpaid dividends. The stock is expected to be redeemed prior to March 31, 1992.
 The company designs, manufactures and markets technology-based proprietary products. The principal markets served include factory and office automation, commercial and military aircraft, electrical utilities, semiconductor manufacturers and pharmaceutical companies.
 -0- 2/27/92
 /CONTACT: Richard V. Plat of Pacific Scientific, 714-720-1714/
 (PSX) CO: Pacific Scientific Co. ST: California IN: SU:


AL-JL -- LA009 -- 3098 02/27/92 09:05 EST
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Publication:PR Newswire
Date:Feb 27, 1992
Words:142
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