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STERLING SOFTWARE ANNOUNCES CONVERTIBLE DEBT OFFERING

 DALLAS, Jan. 26 /PRNewswire/ -- Sterling Software, Inc. (NYSE: SSW) announced today the public offering of $100 million 5-3/4 percent Convertible Subordinated Debentures Due 2003 (the "5-3/4 percent Debentures"). The company has granted the underwriters of the offering an option to purchase up to an additional $15 million of 5-3/4 percent Debentures to cover any over-allotments. Alex, Brown & Sons Incorporated, Bear, Stearns & Co. Inc. and The First Boston Corporation are the underwriters. The 5-3/4 percent Debentures are priced at 100 percent of their face amount, will accrue interest at 5-3/4 percent and are convertible into common stock of the company at any time prior to maturity at a conversion price of $28.35.
 The company will use the proceeds from the offering to redeem its 8 percent Convertible Senior Subordinated Debentures ("8 percent Debentures") and for working capital and other general corporate purposes, including possible acquisitions of businesses and products. At Dec. 31, 1992, approximately $52.6 million in principal amount of 8 percent Debentures was outstanding. The company has no material acquisitions pending.
 Sterling Software, headquartered in Dallas, specializes in EDI and systems software products and services, and technical professional services to the federal government.
 -0- 1/26/93
 /CONTACT: Anne Vahala, director - investor relations of Sterling Software, 214-891-8600/
 (SSW)


CO: Sterling Software, Inc. ST: Texas IN: SU: ERN

WB -- NY062 -- 9085 01/26/93 12:39 EST
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Publication:PR Newswire
Date:Jan 26, 1993
Words:233
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