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WESTINGHOUSE TO MERGE FINANCE SUBSIDIARIES INTO PARENT

 PITTSBURGH, Jan. 27 /PRNewswire/ -- Westinghouse Electric Corporation (NYSE: WX) announced that the boards of directors of Westinghouse, Westinghouse Financial Services, Inc. (WFSI), and Westinghouse Credit Corporation (WCC) today approved in principle a plan to merge WFSI and WCC into the parent company, Westinghouse Electric Corporation.
 The action is being taken to facilitate Westinghouse's previously announced plan to exit the financial services business and to allow Westinghouse to better manage its liquidity. The merger, expected to be completed within the next few months, is subject to a number of conditions.
 /delval/
 -0- 1/27/93
 /CONTACT: Jay McCaffrey of Westinghouse Electric, 412-642-3366/
 (WX)


CO: Westinghouse Electric Corporation; Westinghouse Financial Services,
 Inc.; Westinghouse Credit Corporation ST: Pennsylvania IN: ARO FIN SU: TNM


CD -- PG013 -- 9879 01/27/93 16:41 EST
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Publication:PR Newswire
Date:Jan 27, 1993
Words:129
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