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PENN POWER ANNOUNCES PREFERRED STOCK REDEMPTION

 NEW CASTLE, Pa., June 14 /PRNewswire/ -- Pennsylvania Power Company announced today that it is calling for redemption $16,000,000 of two issues of preferred stock. All outstanding 9.16 percent preferred stock, $100 par value, and 8.48 percent preferred stock, $100 par value, will be redeemed on July 16, 1993.
 The 9.16 percent preferred stock will be redeemed at a price of $102.29 per share plus accrued dividends of five cents per share. The 8.48 percent preferred stock will be redeemed at a price of $103.08 per share plus accrued dividends of $1.18 per share.
 Penn Power will be sending information about the redemptions to all registered holders of these stock issues on June 15, 1993. All shares redeemed will be canceled on the redemption date and will have a status of authorized but unissued shares. Stock certificates should be endorsed and sent to Pennsylvania Power Company, Stock Transfer Department, 1 E. Washington St., P.O. Box 891, New Castle, Pa. 16103-0891.
 -0- 6/14/93
 /CONTACT: Joe Bobbey Jr., director of communications services of Pennsylvania Power, 412-656-5325/


CO: Pennsylvania Power Company ST: Pennsylvania IN: UTI SU:

CD-KC -- PG015 -- 1705 06/14/93 13:56 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
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