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VARITY CORPORATION ESTABLISHES A COMMISSION-FREE SELLING PROGRAM FOR ODDLOT HOLDERS

 BUFFALO, N.Y., Jan. 19 /PRNewswire/ -- Varity Corporation (NYSE: VAT) today announced that it had established a commission-free Selling Program for both common stockholders and preferred stockholders who, as of Jan. 11, 1993, owned
fewer than 100 shares of Varity. The


Selling Program allows eligible stockholders the opportunity to simultaneously sell all, but not less than all, of their eligible Shares without being charged any brokerage commission. Partial tenders will not be accepted. Shares submitted by participating stockholders will be sold on their behalf by a New York Stock Exchange member firm and will not be purchased by Varity. The price received will be based on a weighted average selling price for all shares received prior to the Feb. 25, 1993 expiration and sold periodically over the term of the Selling Program.
 The manager of the Selling Program, Shareholder Communications Corporation, and Varity make no recommendation as to whether or not stockholders should participate in the Selling Program. The Selling Program is set to expire on Feb. 25, 1993, unless extended by Varity.
 -0- 1/19/93
 /CONTACT: Michael MacLeod of Shareholder Communications Corporation, 800-733-1665, for Varity Corporation/
 (VAT)


CO: Varity Corporation ST: New York IN: AUT SU: SRP

KK -- CL010 -- 6240 01/19/93 10:52 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 19, 1993
Words:208
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