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 DALLAS, July 29 /PRNewswire/ -- Texas Instruments Incorporated (NYSE: TXN) today said that about one-half of the company's remaining $2.26 Depositary Shares will be redeemed on Sept. 10, 1993. Each Depositary Share represents one-quarter of a share of Series A Conversion Preferred Stock. This will be the second redemption. In June 1993, TI redeemed about one-third of the company's Depositary Shares then outstanding.
 TI had noted in its recent second-quarter report to stockholders that the higher the common stock price, the more likely the company would redeem additional Depositary Shares.
 Of the current 7,414,000 outstanding Depositary Shares, 3,700,000 will be redeemed. The redemption reflects the simultaneous redemption of 925,000 of the 1,853,500 outstanding shares of Series A Conversion Preferred Stock.
 For each Depositary Share called for redemption, the holder will receive 0.547304 of a share of the company's common stock plus $0.251111 in cash. This consideration represents the call price of $40.432102 per Depositary Share (payable in common stock at $73.875 per common share) plus an amount in cash equal to the accrued and unpaid dividend from Aug. 1 through Sept. 10, 1993.
 The total number of shares of common stock deliverable upon redemption of the Depositary Shares is 2,025,024. There is no adverse effect on per-share earnings resulting from the redemption since the Depositary Shares have been included in earnings-per-share computations as common stock equivalents when dilutive.
 The record date for the determination of Depositary Shares to be redeemed will be Aug. 9, 1993. Depositary Shares to be redeemed will be selected by lot. Depositary Shares selected for redemption may be submitted either by hand to Harris Trust and Savings Bank, 311 West Monroe Street, Securities Window-11th Floor, Chicago, Ill., or to Harris Trust Company of New York, 77 Water Street, Receiving Window-5th Floor, New York, N.Y.; or by mail to Harris Trust and Savings Bank, Attention: Corporate Trust Operations, P.O. Box 830, Chicago, Ill. 60690-0830. Information regarding delivery of the Depositary Shares to be redeemed will be mailed to affected holders on or about Aug. 11, 1993.
 -0- 7/29/93
 /NOTE TO EDITORS: Texas Instruments Incorporated, headquartered in Dallas, is a high-technology company with sales or manufacturing operations in more than 30 countries. TI products and services include semiconductors, defense electronics systems, software productivity tools, computers and peripheral products, custom engineering and manufacturing services, electrical controls, metallurgical materials, and consumer electronic products./
 /CONTACT: Terri West of Texas Instruments Incorporated, 214-995-3481/

CO: Texas Instruments Incorporated ST: Texas IN: CPR SU:

SH -- NY023 -- 7137 07/29/93 09:06 EDT
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Publication:PR Newswire
Date:Jul 29, 1993

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