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UNOCAL ANNOUNCES NEW DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN

 LOS ANGELES, Oct. 12 /PRNewswire/ -- Unocal Corporation today announced a new dividend reinvestment and common stock purchase plan, which will become effective Nov. 12, 1993.
 Under the new plan, holders of 25 or more shares of Unocal common or convertible preferred stock will be able to reinvest their dividends to purchase Unocal common stock at a 3 percent discount from market price.
 The plan also will allow stockholders to make voluntary cash contributions of up to $10,000 per month to purchase common shares at market price for a maximum fee of $3 per transaction.
 The existing Unocal-sponsored Automatic Dividend Reinvestment Service will be terminated as of Nov. 12, 1993.
 The company's board of directors authorized the registration of 4 million new common shares to be used for the program. The plan administrator, at Unocal's option, will make purchases from Unocal or on the open market.
 Unocal filed a registration statement today with the Securities and Exchange Commission and will be distributing a prospectus outlining the details of the program.
 -0- 10/12/93
 /CONTACT: Barry Lane of Unocal, 213-977-7601/


CO: Unocal Corp. ST: California IN: OIL SU: DIV

JB-MF -- LA019 -- 1064 10/12/93 11:47 EDT
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Publication:PR Newswire
Date:Oct 12, 1993
Words:198
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