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WHEELING-PITTSBURGH CONVERTIBLE PREFERRED STOCK PRICED

 WHEELING, W.Va., June 30 /PRNewswire/ -- Wheeling-Pittsburgh Corp. (NYSE: WHX) announced today that it priced an offering of 2.7 million (2,700,000) shares of its Series A convertible preferred stock ($50 liquidation preference per share) managed by Merrill Lynch & Co., PaineWebber Inc. and Solomon Brothers Inc.
 Dividends on the preferred stock are cumulative at the rate of $3.25 per share annually. The preferred stock is convertible into common stock at $15.78 per share (or 3.1686 shares of common stock for each share of preferred stock). The preferred stock has been approved for listing on the New York Stock Exchange under the symbol "WHXPr." The preferred stock is redeemable by the company commencing July 1, 1996, at prices declining ratably to $50 per share.
 Net proceeds will be utilized to pay down borrowings under the company's revolving credit facility, prepay certain other senior debt, fund the company's additional equity investment in Wheeling-Nisshin and for general corporate purposes.
 Wheeling-Pittsburgh Corp. is the eighth largest domestic integrated steel manufacturer with annual shipments of 2.1 million tons.
 -0- 6/30/93
 /CONTACT: Gregg Warren of Wheeling-Pittsburgh, 304-234-2440/
 (WHX)


CO: Wheeling-Pittsburgh Corp. ST: West Virginia IN: MNG SU: OFR

DM-LJ -- PG008 -- 7030 06/30/93 09:32 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
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