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PENTAIR ANNOUNCES CALL OF CUMULATIVE CONVERTIBLE PREFERRED STOCK

 ST. PAUL, Minn. /PRNewswire/ -- Pentair, Inc. (NASDAQ-NMS: PNTA), the St. Paul-based manufacturer of industrial products and paper, today announced it is calling for redemption on March 15, 1993, all of its outstanding $1.50 Cumulative Convertible Preferred Stock, Series 1987.
 A notice of redemption is being sent to shareholders which describes the following alternatives applicable to each share of preferred stock:
 Conversion into approximately .726 shares of Pentair, Inc. common
 stock. Based on the last reported NASDAQ-NMS sale price on Feb. 11,
 1993 of $48.00 per share, a holder, upon conversion, would receive
 stock, cash in lieu of fractional shares and $.31 accrued dividends
 (for the period Jan. 1, 1993 through March 15, 1993) with an
 aggregate value of $35.16.
 Redemption for $26.06, including the $25.75 redemption price and
 $.31 accrued dividends for the period Jan. 1, 1993 through March 15,
 1993.
 All preferred shares not surrendered for conversion by 5:00 p.m. Central Standard Time on March 12, 1993 will be redeemed on March 15, 1993. The preferred shares may be surrendered for conversion or redemption, accompanied by an official letter of transmittal, at Norwest Bank Minnesota, N.A. in St. Paul. Further information for shareholders or copies of the Letter of Transmittal may be obtained from John H. Grunewald, chief financial officer.
 Pentair, Inc. is a St. Paul-based company comprised of 10 businesses which manufacture woodworking equipment, power tools, sporting ammunition, electrical enclosures, automotive service equipment, industrial lubrication systems, material dispensing equipment, pumps and paper. Pentair common stock is quoted on the NASDAQ National Market System under the symbol: PNTA.
 -0- 2/12/93
 /CONTACT: J. H. Grunewald of Pentair, 612-636-7920/
 (PNTA)


CO: Pentair, Inc. ST: Minnesota IN: SU:

MP -- MN007 -- 6101 02/12/93 10:58 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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