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STONE & WEBSTER DECLARES DIVIDEND; ANNOUNCES INCENTIVE RETIREMENT PROGRAM

 NEW YORK, March 17 /PRNewswire/ -- The board of directors of Stone & Webster, Incorporated (NYSE: SW) today declared a quarterly cash dividend of $.15 per share on the outstanding common stock of the corporation, which is at the annual rate of $0.60 per year.
 The dividend is payable May 15, 1993, to stockholders of record on April 1, 1993.
 Stone & Webster also reported that its wholly owned subsidiaries, Stone & Webster Engineering Corporation and Stone & Webster Management Consultants, Inc. will offer approximately 700 staff members an opportunity to retire with enhanced pension benefits.
 This offering is a strategic move for future success. In recent years, Stone & Webster's client base has become increasingly diversified. The Incentive Retirement Program will help strategically position the company to remain closely aligned with the changing needs of its clients.
 To be eligible for the Incentive Retirement Program, employees must be at least age 55 and vested as of their retirement date. Eligible employees who elect to retire on either May 1, 1993, or June 1, 1993, will receive a supplemental pension based on their 1990-1992 average compensation. The actual cost cannot be determined until the number of employees who accept is known.
 The Retirement Plan was modified effective Jan. 1, 1992, resulting in improved benefits for all participating employees and retirees, and continues to be fully funded.
 Stone & Webster Engineering Corporation is an international, multidisciplinary engineering and construction organization specializing in technologically advanced projects in such areas as power generation, refining and petrochemical work, and environmental restoration. The company also undertakes transportation and industrial projects.
 Stone & Webster Management Consultants supplies comprehensive management consulting and financial advisory services to business and industry including utility, transportation, banking and financial institutions, petroleum and manufacturing companies as well as to government.
 -0- 3/17/93
 /CONTACT: William M. Egan of Stone & Webster, 212-290-7490/
 (SW)


CO: Stone & Webster, Incorporated ST: New York IN: ENV SU: DIV

CK-PS -- NY034 -- 6982 03/17/93 11:03 EST
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Publication:PR Newswire
Date:Mar 17, 1993
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