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TERRA INDUSTRIES ANNOUNCES STOCK REPURCHASE PROGRAM

 SIOUX CITY, IOWA, July 20 /PRNewswire/ -- The board of directors of Terra Industries Inc. (NYSE: TRA) today announced the authorization of a program to repurchase up to two million shares of the company's common stock over the next two years. Purchases will be made on the open market using the company's cash reserves, with timing at management's discretion. Currently, there are approximately 69.4 million common shares outstanding.
 In making the announcement, Reuben F. Richards, chairman of the board, said, "The directors have taken this action because they have confidence in Terra's future and believe that, at current prices, Terra's common shares are undervalued and their purchase represents an excellent use of our cash."
 Terra Industries Inc., with 1992 revenue over $1 billion, is a leading marketer and producer of fertilizer, crop protection products, seed and services for agriculture.
 -0- 7/20/93
 /CONTACT: Paula C. Norton of Terra Industries, Inc., 712-277-5438/
 (TRA)


CO: Terra Industries, Inc. ST: Iowa IN: AGR SU: OFR

DB -- MN015 -- 6875 07/20/93 13:26 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
Words:172
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