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SAVIN CORPORATION RESETS CONVERSION RATE ON PREFERRED STOCK

 SAVIN CORPORATION RESETS CONVERSION RATE ON PREFERRED STOCK
 STAMFORD, Conn., Feb. 20 /PRNewswire/ -- Savin Corporation (NYSE: SVB) announced that the new rate, which is reset annually, at which its $.80 cumulative convertible Series B preferred stock, $.40 cumulative convertible Series C preferred stock and $.10 cumulative convertible Series D preferred stock may be converted, will be .45 shares of common stock of the company for each share of such preferred stock, effective March 31, 1992. The current rate is .3546 common shares.
 Savin Corporation, founded in 1959, markets a full line of office copiers (full-cover and black and white) and facsimile products through a nationwide branch and dealer network. Savin introduced Liquid Toner Technology to the copier market and is the only company now offering both liquid and dry technologies in the United States.
 -0- 2/20/92
 /CONTACT: Sheila Geltzer of Geltzer & Company, 212-575-1976, for Savin/
 (SVB) CO: Savin Corporation ST: Connecticut IN: CPR SU:


KD -- NY099 -- 1166 02/20/92 17:45 EST
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Publication:PR Newswire
Date:Feb 20, 1992
Words:165
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