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TRANS WORLD AIRLINES TAKES OFF AT THE AMERICAN STOCK EXCHANGE

 NEW YORK, Nov. 4 /PRNewswire/ -- Trans World Airlines, Inc. has flown out of Chapter 11 bankruptcy and begun trading publicly on the American Stock Exchange.
 In January 1992, TWA filed a voluntary petition for relief under the U.S. Bankruptcy Code. As part of its reorganization, TWA issued 20 million new shares of common stock, 9 million of which is to be distributed to its employees through four New Employee Common Stock Trusts and 11 million of which is to be distributed publicly through a New Voting Trust. In addition, TWA issued 12.5 million new shares of 12% cumulative preferred stock.
 TWA's new voting trust certificates (symbol:TWA.V.WI), representing the 11 million shares held by the company's New Voting Trust, opened trading at 5 3/4 on 3,200 certificates. The company's cumulative preferred stock (symbol:TWA.Pr.WI) opened at 5 on 10,000 shares.
 Additionally, the company issued 10% senior secured notes due 1998 (symbol:TWA.A.WI) which opened at 71 1/2 (bid) to 74 1/2 (ask) and 8% senior secured notes due 2000 (symbol:TWA.B.WI) which opened at 57 on 5 bonds.
 GHM, Inc. has been selected as the specialist firm for TWA.V.WI and TWA.Pr.WI. Spear, Leeds & Kellogg is the specialist firm for TWA.A.WI and TWA.B.WI.
 TWA, with offices in St. Louis and Kansas City, Missouri and Mt. Kisco, New York, is the largest employee-owned airline in the United States. TWA has hubs in St. Louis, New York and Atlanta, and serves 105 U.S. cities. TWA also flies to 19 major cities in Europe and the Middle East through its European hub in Paris. The company's wholly-owned subsidiary, Trans World Express, a commuter airline, serves 21 airports in the Northeast from TWA's New York hub.
 William Howard, TWA chairman and chief executive officer said, "The commencement of trading TWA securities on the American Stock Exchange represents the beginning of a bright new chapter in the history of this proud airline and its 25,000 employee owners."
 Jules Winters, acting chief executive officer of the American Stock Exchange added, "We're pleased to add another well-known company to the Exchange's auction marketplace. Under the reins of William Howard, TWA is emerging from bankruptcy as a healthier company with substantial investor interest. We're proud that the new TWA, which is 45% employee- owned, recognizes the many advantages our auction marketplace holds for TWA shareholders."
 The American Stock Exchange is dedicated to providing our listed companies and their shareholders with the most fair and efficient trading environment available -- the auction market.
 -0- 11/4/93
 /CONTACT: Melissa Grand, Manager, Communications of American Stock Exchange, 212-306-1635/


CO: Trans World Airlines ST: New York IN: AIR SU:

WB -- NY071 -- 0732 11/04/93 12:35 EST
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Publication:PR Newswire
Date:Nov 4, 1993
Words:470
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