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STERLING SOFTWARE ANNOUNCES PROPOSED CONVERTIBLE DEBT OFFERING

 DALLAS, Dec. 21 /PRNewswire/ -- Sterling Software, Inc. (NYSE: SSW) today announced that the company filed a registration statement Friday, December 18, with respect to an underwritten offering of up to $85 million of convertible subordinated debentures (the "debentures"), excluding up to $12,750,000 of debentures issuable upon the exercise of a 15 percent over-allotment option in favor of the underwriters. Alex. Brown & Sons, Bear, Stearns & Co. Inc. and The First Boston Corporation are managing underwriters of the offering.
 The company plans to 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 Nov. 30, 1992, approximately $52.6 million in principal amount of 8 percent debentures was outstanding. The company has no material acquisitions pending.
 The registration statement relating to these securities was filed Friday, December 18, with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Sterling Software, headquartered in Dallas, specializes in EDI and systems software products and services, and technical professional services to the federal government.
 -0- 12/21/92
 /CONTACT: Anne Vahala, director-investor relations of Sterling Software, Inc., 214-891-8600/
 (SSW)


CO: Sterling Software, Inc. ST: Texas IN: CPR SU: OFR

TS -- NY015 -- 8671 12/21/92 09:37 EST
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Publication:PR Newswire
Date:Dec 21, 1992
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