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PROSPECT GROUP'S REVERSE STOCK SPLIT TO BE EFFECTIVE JUNE 1, 1993

 NEW YORK, May 26 /PRNewswire/ -- The Prospect Group, Inc. (NASDAQ: PROS) today announced that a one-for-ten reverse split of its common stock, approved by shareholders on May 18, will take effect at the opening of business on June 1.
 Under the terms of the shareholder vote, the company's authorized common stock will be reduced from 40 million to three million shares and the number of shares outstanding will be reduced from 23,263,568 to an estimated 2,326,356. The par value of a share of common stock will be reduced from $.50 to $.01. Prospect will send transmittal letters to shareholders shortly after the effective date with instruction for the exchange of certificates. Fractional shares will be paid in cash.
 NASDAQ has notified Prospect that the company's trading symbol on the NASDAQ Stock Market will change to PROSD for one month following the effective date of the reverse split, and subsequently will revert to PROS, its current symbol. The new CUSIP number will be 742918 50 1.
 Prospect Group adopted a plan of complete liquidation and dissolution which was approved by shareholders in 1990. The bulk of the company's assets have been distributed to shareholders in the past three years and the company does not anticipate making additional liquidating distributions in the foreseeable future.
 -0- 5/26/93
 /CONTACT: Donald R Dwight of Dwight Partners, Inc., 203-661-8480, Prospect Group, Inc./
 (PROS)


CO: Prospect Group, Inc. ST: New York IN: SU:

TS-SM -- NY001 -- 2289 05/26/93 08:00 EDT
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Publication:PR Newswire
Date:May 26, 1993
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