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UNION SWITCH & SIGNAL INC. ANNOUNCES INITIAL PUBLIC OFFERING

 COLUMBIA, S.C., Nov. 24 /PRNewswire/ -- Union Switch & Signal Inc. today announced that it commenced an initial public offering of 3,250,000 shares of common stock, priced at $15.00 per share. The shares are quoted on the NASDAQ National Market System under the symbol "UNSW." The public offering shares represent approximately 35 percent of the company, while the remaining 65 percent are held by the company's majority shareholder, Ansaldo Trasporti S.p.A., of Italy, a company of the Finmeccanica group.
 The common shares are being sold through an underwriting group managed by Lehman Brothers and Wertheim Schroder & Co. Incorporated.
 The company intends to use the net proceeds from the offering to pay a dividend of $30 million to Ansaldo Trasporti, with the remainder to be used to repay certain short-term indebtedness.
 Union Switch & Signal Inc. is a leader in the design and manufacture of signaling, control and automation products and systems for the railroad and mass transit industries. The company, which is headquartered in Columbia, has its principal facilities in Pittsburgh and Batesburg, S.C.
 -0- 11/24/93
 /CONTACT: Anthony A. Florence of Union Switch & Signal, 803-929-1200, or fax, 803-929-1218/
 (UNSW)


CO: Union Switch & Signal Inc. ST: South Carolina, Pennsylvania IN: TRN SU: OFR

DM-MP -- PG007 -- 7607 11/24/93 11:18 EST
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Publication:PR Newswire
Date:Nov 24, 1993
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