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WHEELING-PITTSBURGH FILES $200 MILLION DEBT ISSUE

 NEW YORK, Oct. 22 /PRNewswire/ -- Wheeling-Pittsburgh Corp. (NYSE: WHX) has filed a registration statement with the Securities and Exchange Commission for a public offering of $200 million of senior notes due 2003. Net proceeds will be used (i) if necessary, to fund a portion of the offer to purchase and consent solicitation for the 12-1/4 percent First Mortgage Notes due 2000 announced yesterday (Oct. 21, 1993); (ii) to purchase First Mortgage Notes that remain outstanding following consummation of the Offer to Purchase and Consent Solicitation; and (iii) for general corporate purposes, including working capital, capital expenditures and potential acquisitions. Merrill Lynch & Co. and Citicorp Securities, Inc. will co-underwrite this offering.
 Wheeling-Pittsburgh, through its wholly-owned subsidiary, Wheeling-Pittsburgh Steel Corp., operates the eighth largest domestic integrated steel business. For the nine months ended Sept. 30, 1993, Wheeling-Pittsburgh had net sales of $774.1 million and net income of $16.9 million.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 10/22/93
 /CONTACT: Gregg Warren of Wheeling-Pittsburgh, 304-234-2440/
 (WHX)


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

DM-KC -- PG005 -- 5620 10/22/93 09:46 EDT
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Publication:PR Newswire
Date:Oct 22, 1993
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