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TCW ANNOUNCES PROPOSED SUBSCRIPTION OFFER

 LOS ANGELES, June 11 /PRNewswire/ -- TCW Convertible Securities Fund Inc. ("CVT") announced today that it intends to file with the Securities and Exchange Commission a registration statement with respect to a proposed subscription offer that will entitle each shareholder to purchase one additional share of common stock, $.01 par value, of CVT for every five shares held on a record date yet to be determined. The expected per share subscription price will be the higher of net asset value or 95 percent of the market price. The offer will be made only by means of a prospectus, which is currently expected to be mailed in September.
 An aggregate of approximately 5,170,000 shares will be offered for subscription pursuant to non-transferable rights. There will be an over-subscription privilege for shares not subscribed for.
 CVT is a closed-end, diversified-management investment company, investing principally in convertible securities. Net proceeds from the rights offering will be invested in accordance with the investment policies of CVT.
 A registration statement relating to these securities has not yet been filed with the Securities and Exchange Commission or 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 release 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 qualification under the securities laws of any such state.
 -0- 6/11/93
 /CONTACT: Ronald E. Robison of TCW Funds Management, 213-244-0222/


CO: TCW Convertible Securities Fund Inc.; TCW Funds Management Inc. ST: California IN: FIN SU: OFR

BP-LS -- LA005 -- 0972 06/11/93 09:31 EST
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Publication:PR Newswire
Date:Jun 11, 1993
Words:295
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