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REDEMPTION OF WILLIAMS' CONVERTIBLE EXCHANGEABLE PREFERRED STOCK APPROVED

 TULSA, Okla., May 5 /PRNewswire/ - The board of directors of The Williams Companies Inc. (NYSE: WMB) today called for redemption of all of the company's issued and outstanding $3.875 convertible-exchangeable preferred stock, par value $1 per share.
 The preferred stock will be redeemed on or before June 15, at a redemption price of $52.3250 per share, together with full cumulative and unpaid dividends to the redemption date.
 First Chicago Trust Co. of New York, 30 West Broadway, Suite 4650, New York, NY 10007-2192, is the redemption agent for the preferred stock and will notify preferred stockholders in writing of the redemption date.
 The conversion to common shares was included in Williams' first-quarter calculation of fully diluted earnings per share reported April 26.
 Until the redemption date, the preferred stock may -- at the option of the shareholder -- be converted into shares of common stock of the company at a conversion rate of 1.2739 shares of common stock for each share of preferred stock.
 The right to convert shares of preferred stock into shares of common stock will terminate at the close of business on the redemption date.
 First Chicago Trust Co. of New York also will serve as the conversion agent for shares of preferred stock surrendered for conversion into common stock.
 The Williams Companies, listed on the New York and Pacific stock exchanges under the symbol WMB, operates 27,000 miles of pipelines that transport natural gas and petroleum products, major natural gas gathering and processing facilities, and a national telecommunications company that specializes in serving other carriers and businesses.
 -0- 5/5/93
 /CONTACT: Jim Gipson, 918-588-2111 (media), or Linda Lawson, 918-588-2087 (investors), both of The Williams Companies/
 (WMB)


CO: The Williams Companies Inc. ST: Oklahoma IN: OIL SU:

GT -- SF006 -- 2225 05/05/93 13:43 EDT
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Publication:PR Newswire
Date:May 5, 1993
Words:302
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