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WESTINGHOUSE REDUCES CORPORATE DEBT, REVOLVER FACILITY

 PITTSBURGH, June 14 /PRNewswire/ -- Westinghouse Electric Corporation (NYSE: WX) today announced it has taken two steps that reduce its corporate debt exposure and its reliance on bank funding sources.
 In the first action, the corporation has paid down $900 million of its outstanding borrowings against its revolving line of credit. Westinghouse previously had borrowed $5.5 billion of its $6 billion revolving credit facility. With this paydown, Westinghouse has reduced its bank borrowings to $4.6 billion.
 Due to the rapid progress the corporation has made in the liquidation of Westinghouse Financial Services assets, the corporation also has reduced the size of its revolving credit line by $500 million to $5.5 billion. These two actions result in facility fee and interest payment savings of approximately $1 million per month.
 "This is a further step in our restructuring plan announced last November, and demonstrates the soundness of that plan, as well as the progress we are making. We expect both further paydowns and commitment reductions as the year progresses," said Warren H. Hollinshead, executive vice president and chief financial officer.
 /delval/
 -0- 6/14/93
 /CONTACT: James P. Schmitt of Westinghouse Electric, 412-642-4642/
 (WX)


CO: Westinghouse Electric Corporation ST: Pennsylvania IN: ARO CPR SU:

CD -- PG017 -- 1717 06/14/93 14:34 EDT
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Publication:PR Newswire
Date:Jun 14, 1993
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