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WISCONSIN ELECTRIC ANNOUNCES THE SALE $60 MILLION FIRST MORTGAGE BONDS

 MILWAUKEE, Aug. 31 /PRNewswire/ -- Wisconsin Electric Power Co. agreed to sell $60 million of First Mortgage Bonds, 5-1/8 percent Series due Sept. 15, 1998 through an underwritten offering by Salomon Brothers Inc. and Kidder, Peabody & Co. Incorporated scheduled to close on Sept. 15, 1993.
 The 5-1/8 percent Series Bonds are being offered to the public at 99.80 percent of the principal amount to yield 5.171 percent. The bonds are preliminarily rated (P)AA+ by Standard and Poor's, (P)Aa2 by Moody's, and (P)AA+ by Duff and Phelps. Proceeds from the sale will be added to the general funds of the company and used primarily for the redemption of the 626,500 shares of the company's 6.75 percent Series $100 Par Value Serial Preferred Stock which have been called for redemption on Sept. 28, 1993.
 The company is redeeming the 6.75 percent Series Preferred Stock as part of its continuing efforts to reduce its average cost of capital in the current low interest rate environment.
 Wisconsin Electric, the principal subsidiary of Wisconsin Energy Corp. (NYSE: WEC), is engaged primarily in the generation, transmission, distribution, and sale of electric energy in southeastern (including the Milwaukee area), east central and northern Wisconsin, and in the Upper Peninsula of Michigan.
 The new First Mortgage Bonds are being offered only by means of a prospectus, copies of which may be obtained from the underwriters.
 -0- 8/31/93
 /CONTACT: Charles Ziegler of Wisconsin Energy Corp., 414-221-4444 or 414-221-2896/
 (WEC)


CO: Wisconsin Eletric Power Co.; Wisconsin Energy Corp. ST: Wisconsin IN: UTI SU: OFR

AR -- CL012 -- 7583 08/31/93 14:52 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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