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RJR NABISCO FILING SHELF REGISTRATION FOR PREFERRED STOCK OFFERING

 NEW YORK, July 21 /PRNewswire/ -- RJR Nabisco Holdings Corp. (NYSE: RN) today announced that it is preparing an offering of $500 million of cumulative preferred stock.
 The company said it will disclose its intention today in a shelf registration statement to be filed with the Securities and Exchange Commission.
 RJR Nabisco said that it expects to use substantially all of the net proceeds from the sale of preferred stock to repurchase, redeem or otherwise retire higher-cost debt. Pending such use, the proceeds would be used to reduce bank debt or for short-term investments.
 A registration statement relating to the preferred stock has been filed with the Securities and Exchange Commission but has not yet become effective. No securities may be sold or offers to buy accepted until the registration statement relating to the securities has become effective under the Securities Act of 1933. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall there be any sale of these securities in any states where such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Sale of the securities will be made only by means of a final prospectus or other appropriate documentation, which will be distributed after the effectiveness of the registration statement.
 RJR Nabisco Holdings Corp. is the parent company of RJR Nabisco, Inc., an international consumer products company. RJR Nabisco's major operating units are R.J. Reynolds Tobacco Co., R.J. Reynolds Tobacco International, Inc., the Nabisco Foods Group and Nabisco International, Inc.
 -0- 7/21/93
 /CONTACT: Jason Wright of RJR Nabisco, 212-258-5770/
 (RN)


CO: RJR Nabisco Holdings Corp. ST: New York IN: TOB SU: OFR

BN-RA -- AT007 -- 3809 07/21/93 09:32 EDT
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 21, 1993
Words:301
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