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THE NEWS CORPORATION ANNOUNCES LOAN EXTENSION

 THE NEWS CORPORATION ANNOUNCES LOAN EXTENSION
 NEW YORK, Nov. 24 /PRNewswire/ -- The News Corporation Limited


(NYSE: NWS), announced that as of today it has received commitments from its major banks to extend in excess of US$3.2 billion of its loans for an additional three-year period commencing February 1994. The company is continuing discussions with its banks to increase the amount to be extended.
 News Corporation also announced that it has entered into an agreement with its lenders pursuant to which its major loan agreement was amended in various respects favorable to the company, including permitting the company greater flexibility with respect to payment of dividends, making of investments and issuing long-term debt securities.
 News Corporation has filed with the Securities and Exchange Commission a Registration Statement to register 16,100,000 American Depository Shares (representing 32,200,000 ordinary shares) to be sold in the United States and 5,000,000 ordinary shares to be sold internationally outside of the United States. The company also filed a Registration Statement to register US$300 million of senior notes due 2001 of News America Holdings Incorporated, which notes will be guaranteed by the News Corporation Limited.
 The equity offering will be underwritten by a syndicate of underwriters lead managed by Allen & Company Incorporated and Morgan Stanley & Co. Incorporated in the United States. The international offering will be lead managed by Allen & Company Incorporated and Morgan Stanley International and will be co-lead managed by J.B. Were & Son and Prudential-Bache Securities (Australia) Limited. The debt offering will be underwritten by Morgan Stanley & Co. Incorporated, Allen & Company Incorporated and Citicorp Securities Markets, Inc.
 The debt and equity offerings and agreements with the company's banks are part of a financing program that includes the recently completed private placement of US$180 million of convertible preference shares and the public offering of a 55 percent interest in News Corporation's Australian commercial printing and magazine operations for approximately US$500 million. The extension and amendment are subject to the prepayment of certain loan obligations, which the company will make from the proceeds of its financing program.
 -0- 11/24/91 R
 /CONTACT: Peter Rosenthal or Martha Cid, 212-489-6900, both of Howard J. Rubenstein for The News Corporation/
 (NWS) CO: The News Corporation Limited ST: New York IN: SU:


MA -- NYSU005R -- 6646 11/25/91 07:15 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 25, 1991
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