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PETROLANE REGISTERS $200 MILLION ISSUE OF 10.5 PERCENT NOTES TO REPLACE EXISTING DEBT

 VALLEY FORGE, Pa., Sept. 27 /PRNewswire/ -- Petrolane Incorporated (NASDAQ: PGASB) on Friday, Sept. 24, filed a shelf registration statement with the Securities and Exchange Commission covering the issue of up to $200 million of Petrolane's 10.50 percent Series A Senior Secured Notes due 1999.
 The notes will be issued in exchange for existing debt and offered for sale at the option of a security holder who will receive the proceeds of any sale. Petrolane will receive no part of the proceeds.
 Petrolane is one the nation's two largest propane marketers, with 420 district locations in 41 states. AmeriGas, Inc., a wholly owned subsidiary of UGI Corp. (NYSE: UGI), and Petrolane's former bondholders acquired the company on July 15 through a pre-packaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code.
 /delval/
 -0- 9/27/93
 /CONTACT: Vince Testa of UGI, 215-337-1000/
 (UGI PGAS)


CO: UGI Corporation; Petrolane Incorporated; AmeriGas, Inc. ST: Pennsylvania IN: UTI SU:

MJ-CC -- PH011 -- 5887 09/27/93 11:09 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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