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UGI SHAREHOLDERS APPROVE HOLDING COMPANY RESTRUCTURING

 UGI SHAREHOLDERS APPROVE HOLDING COMPANY RESTRUCTURING
 VALLEY FORGE, Pa., April 9 /PRNewswire/ -- Shareholders of UGI


Corporation (NYSE: UGI) at a special meeting today approved the restructuring of the Pennsylvania gas and electric utility and national marketer of propane into a holding company.
 The restructuring of the present public utility operating company into a holding company with two principal subsidiaries will become effective tomorrow, April 10.
 After restructuring, the holding company will have the UGI Corporation name. The gas and electric utility divisions will operate under a subsidiary, UGI Utilities, Inc. Propane operations will continue under the existing subsidiary, AmeriGas, Inc., whose AmeriGas Propane unit is the nation's third largest propane marketer.
 The day-to-day operations of the utilities and AmeriGas will not be affected by the change, UGI said.
 The holding company structure "would, however, enhance the independent growth of each business with financing that is consistent with the practice in each industry," James A. Sutton, chairman and chief executive officer, said in the company's recently issued annual report.
 "Also," Sutton noted, "the separation of the businesses may provide the opportunity for the market price of UGI's stock to reflect fully the total value of both operations."
 UGI's directors had been evaluating various organizational structures since the company divested its non-strategic businesses and focused its growth strategies in utilities and propane.
 /delval/
 -0- 4/9/92
 /CONTACT: Vince Testa of UGI, 215-337-1000/
 (UGI) CO: UGI Corporation ST: Pennsylvania IN: UTI SU: RCN


KA-MP -- PH014 -- 6679 04/09/92 10:27 EDT
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Publication:PR Newswire
Date:Apr 9, 1992
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