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U.S. LONG DISTANCE CORP. SHELF REGISTRATION DECLARED EFFECTIVE

 SAN ANTONIO, May 27 /PRNewswire/ -- U.S. Long Distance Corp. (NASDAQ-NMS: USLD) announced today that its shelf registration statement filed with the Securities and Exchange Commission was declared effective by the commission at 5 p.m. E.D.T. on Thursday, May 27, 1993. The company also announced that it intends to make an offering of 2 million shares of its common stock, of which 1,550,000 shares would be offered by the company and 450,000 shares would be offered by owners of the company's 13 percent senior subordinated notes upon their exercise of certain warrants. Additionally, the company may sell up to 300,000 shares of common stock to cover over-allotments. The company has named The Chicago Corporation and Stephens Inc. as managing underwriters. The proceeds from the sale of the shares by the company will be utilized to retire its subordinated notes totaling $10 million in principal amount and to reduce the company's revolving credit receivable financing facility.
 The company is a fully-integrated long distance telecommunications and information services company with three primary areas of business: billing clearinghouse and information services for operator services and direct-dial long distance companies; operator services for the hospitality and pay telephone industries; and direct-dial long distance telecommunications services in Texas and certain other states.
 -0- 5/27/93
 /CONTACT: Tabitha Zane of U.S. Long Distance Corp., 210-525-6228/
 (USLD)


CO: U.S. Long Distance Corp. ST: Texas IN: TLS SU: OFR

SM -- NY102 -- 3191 05/27/93 17:59 EDT
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Publication:PR Newswire
Date:May 27, 1993
Words:250
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