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WASHINGTON WATER POWER ANNOUNCES REDEMPTION OF BONDS

 SPOKANE, Wash., May 25 /PRNewswire/ -- The Washington Water Power Company (NYSE: WWP) has announced its intention to redeem the entire $20 million of 7.875 percent Series First Mortgage Bonds due May 1, 2003. The bonds will be redeemed at the general redemption price of 102.91 percent of their principal amount. The redemption date will be June 18, 1993, with interest accruing through June 17, 1993.
 This will be the company's third First Mortgage Bond redemption of the year. In January of this year, WWP redeemed the entire $50 million of 10.375 percent Series First Mortgage Bonds due January 1, 2018, at the general redemption price of 107.49 percent of their principal amount. In April, the company redeemed the entire $80 million of 9.25 percent Series First Mortgage Bonds due Dec. 1, 2016, at the general redemption price of 106.48 of their principal amount.
 As a result of the continued drop in interest rates, the company anticipates significant savings in interest costs when it issues new long-term debt later this year.
 For information regarding the bond redemption, bondholders should call the Trustee, Citibank, N.A., at 1-800-422-2066 or WWP's shareholder services department at 509-482-4548 or 1-800-727-9170.
 -0- 5/25/93
 /CONTACT: Patrick Lynch of Washington Water Power, 509-482-4246/
 (WWP)


CO: The Washington Water Power Co. ST: Washington IN: UTI SU:

SW -- SE001 -- 2117 05/25/93 11:15 EDT
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Publication:PR Newswire
Date:May 25, 1993
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