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UNITED NEWSPAPERS plc 1-FOR-5 RIGHTS ISSUE

 LONDON, June 29 /PRNewswire/ -- United Newspapers plc (NASDAQ: UNEWY) today announced a 1-for-5 rights issue at 480 pence per new ordinary share to raise approximately 190.0 million pounds. The issue has been fully underwritten by Samuel Montagu & Co. Limited.
 United Newspapers is one of the U.K.'s principal publishers of national and regional newspapers. Through its expansion over the last five years in the U.K. and U.S., the Group has reinforced its position as a leading business magazine publisher, established itself as a leading publisher of advertising periodicals and is expanding in exhibitions and conferences. It is also a provider of information services to the investment community in the U.S. and U.K.
 The strengthening of the capital base of the Group through the rights issue will provide greater scope to pursue a strategy of further growth in its principal business areas. A number of opportunities for expanding existing publishing and exhibition interests are being actively pursued in the U.S. and Far East. The proceeds of the rights issue will be used to reduce current indebtedness.
 In the past five years, the Group has invested more than 700 million pounds on capital expenditure, rationalization and restructuring and acquisitions without any significant issue of shares.
 The benefits of this investment were reflected in a 28-percent increase in profit before exceptional items in 1992. The directors of United Newspapers forecast that profit before taxation for the first six months of this year will exceed the 46.5 million pounds achieved in the first six months of 1992.
 -0- 6/29/93
 /CONTACT: G.J.S. Wilson, Managing Director, United Newspapers plc, 071-921-5000; or R.R. Faure Walker, 071-260-9290, or A.M. Galloway, 071-260-9299, both of Samuel Montagu & Co. Limited; or Tom Black of The P.L. Thomas Group, 312-906-8060, for United Newspapers plc/
 (UNEWY)


CO: United Newspapers plc ST: IN: PUB SU: OFR

DD -- DE004 -- 6581 06/29/93 09:16 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
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