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UNION CARBIDE TO REDEEM 15 PERCENT DEBENTURES DUE 2006

 DANBURY, Conn., Dec. 17 /PRNewswire/ -- Union Carbide Corporation today announced that on Jan. 31, 1993, its subsidiary Union Carbide Chemicals and Plastics Company Inc. will redeem all of its outstanding 15 percent senior debentures due 2006, at a price equal to 103 percent of the principal amount of $11.6 million, plus accrued interest.
 The redemption is part of the company's strategy of retiring high- cost debt or refinancing it at lower rates to reduce interest expense. Union Carbide will act as transfer and paying agent for the redemption.
 Union Carbide Corporation is a basic chemicals company with many of the industry's most advanced process technologies and some of the most efficient large-scale chemical production facilities found anywhere in the world. In 1991, Union Carbide had sales of nearly $5 billion.
 Union Carbide is:
 -- Among the largest manufacturers of polyethylene, the world's most widely used plastic, and the technology leader in this industry.
 -- The world's largest producer of ethylene oxide and its derivatives, including ethylene glycol, used for polyester fiber, resin and film, automotive antifreeze and other products.
 -- The leading North American supplier of solvents and intermediates to the paint and coatings industry.
 -0- 12/17/92
 /CONTACT: Tomm F. Sprick of Union Carbide, 203-794-6992/
 (UK)


CO: Union Carbide Corporation ST: Connecticut IN: CHM SU:

SM -- NY014 -- 8057 12/17/92 09:03 EST
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Publication:PR Newswire
Date:Dec 17, 1992
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