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THERMO ELECTRON ANNOUNCES DISTRIBUTION TO SHAREHOLDERS OF RIGHTS IN THERMO FIBERTEK SUBSIDIARY

 THERMO ELECTRON ANNOUNCES DISTRIBUTION TO SHAREHOLDERS OF RIGHTS IN
 THERMO FIBERTEK SUBSIDIARY
 WALTHAM, Mass., September 29, 1992 -- Thermo Electron Corporation (NYSE: TMO) today announced that its Board of Directors has declared a dividend of transferable subscription rights to purchase shares of common stock in its Thermo Fibertek Inc. subsidiary. The dividend will be paid on Oct. 12, 1992, to shareholders of record on Oct. 9, 1992. Thermo Electron will receive the rights as the majority shareholder of Thermo Fibertek, which will distribute the rights to its shareholders of record on Oct. 9, 1992.
 Each Thermo Electron shareholder on the record date will receive 0.10 rights for each share of Thermo Electron common stock held (one right for every ten shares of Thermo Electron common stock). One right will entitle the holder of the right to purchase one share of Thermo Fibertek common stock at a subscription price of $8.00. The rights will be exercisable from Oct. 12, 1992 through Oct. 30, 1992, and will be listed for trading on the American Stock Exchange during this period. Upon completion of the rights offering, Thermo Fibertek common stock will begin trading on the American Stock Exchange.
 Thermo Fibertek provides a range of products and technologies worldwide for the paper-manufacturing and paper-recycling industries.
 Thermo Electron develops, manufactures, and markets environmental and analytical instruments, custom-engineered and pre-packaged cogeneration systems, industrial process equipment, biomedical materials and products, and fabricated biomedical and aerospace components. The company also provides metallurgical heat treating, water quality engineering, and analytical laboratory services.
 Copies of the Prospectus relating to the offering may be obtained from County NatWest Securities Limited, Syndicate Department, 100 Wall Street, 23rd Floor, New York, N.Y. 10004, 212-440-8413.
 A registration statement relating to these securities has bee filed 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 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 or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
 -0- 9/29/92
 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO CO: Thermo Electron Corporation ST: Massachusetts IN: SU:


TM -- NE008 -- 4296 09/29/92 10:25 EDT
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Publication:PR Newswire
Date:Sep 29, 1992
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