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UNION TEXAS PETROLEUM TO REDEEM $410 MILLION OF NOTES

 UNION TEXAS PETROLEUM TO REDEEM $410 MILLION OF NOTES
 HOUSTON, Jan. 13 /PRNewswire/ -- Union Texas Petroleum Holdings,


Inc. (NYSE: UTH) today announced that it has elected to redeem all of its outstanding $100 million senior subordinated reset notes due Nov. 1, 1993 and all of its outstanding $310 million 13 percent subordinated notes due July 1, 1995.
 The redemption price for the senior subordinated reset notes is 103.1250 percent (expressed as a percentage of principal amount) together with accrued interest thereon to the redemption date. The redemption price for the 13 percent subordinated notes is 104 percent (expressed as a percentage of principal amount) together with accrued interest thereon to the redemption date.
 The company will determine a redemption date, which will be as soon as permissible but no later than the end of February 1992. A notice of redemption and a transmittal letter as well as instructions and information of surrender of the notes will be sent to all noteholders.
 One of the nation's largest independent producers, Houston-based Union Texas Petroleum Holdings, Inc. explores for and produces oil and gas overseas primarily in the U.K. North Sea, Indonesia and other strategic international areas. The company also has petrochemicals interests in the United States.
 -0- 1/13/92
 /CONTACT: Carol Cox of Union Texas Petroleum, 713-968-3258/
 (UTH) CO: Union Texas Petroleum Holdings Inc. ST: Texas IN: OIL SU:


TS -- NY013 -- 8920 01/13/92 08:21 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 13, 1992
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