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PENNSYLVANIA GAS AND WATER COMPANY ANNOUNCES REDEMPTION OF BONDS

 WILKES-BARRE, Pa., April 5 /PRNewswire/ -- Pennsylvania Gas and Water Company (PG&W) announced today that it is redeeming two series of its bonds.
 On May 1, 1993, PG&W will redeem the entire outstanding principal amounts of both its 9-1/4 percent Series First Mortgage Bonds due 1996 and its 10 percent Series First Mortgage Bonds due 1995.
 On March 29, 1993, PG&W authorized Morgan Guaranty Trust Company of New York, trustee for the bonds, to give notice of such redemption to all holders of the bonds.
 In explaining the redemption, John F. Kell, PG&W's vice president of Finance, said that the company is taking advantage of recent successful financings and favorable market conditions to redeem two of its higher cost debt instruments.
 Pennsylvania Gas and Water Company, the principal subsidiary of Pennsylvania Enterprises, Inc. (NASDAQ: PENT) (PEI) serves approximately 130,000 water customers and 135,000 natural gas customers in northeastern Pennsylvania.
 -0- 4/5/93
 /CONTACT: Robert J. Lopatto of Pennsylvania Enterprises, 717-829-8825/


CO: Pennsylvania Enterprises, Inc. ST: Pennsylvania IN: UTI SU:

MJ-MP -- PH007 -- 2966 04/05/93 10:55 EDT
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Publication:PR Newswire
Date:Apr 5, 1993
Words:185
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