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WISCONSIN ELECTRIC POWER CO. AGREES TO SELL FIRST MORTGAGE BONDS

 MILWAUKEE, Jan. 12 /PRNewswire/ -- Wisconsin Electric Power Co. agreed to sell $100 million of 7-3/4 percent First Mortgage Bonds today in a public offering underwritten by Goldman, Sachs & Co.; Bear, Stearns & Co. Inc.; Kidder, Peabody & Co. Incorporated; and Interstate/Johnson Lane Corporation scheduled to close on Jan. 26, 1993.
 Proceeds from the sale will be added to the general funds of the company and used for the refunding of all the company's $100 million aggregate principal amount of First Mortgage Bonds, 9.85 percent series due April 15, 2023, currently outstanding, which the company intends to call for redemption on April 15, 1993. Proceeds from the new bonds will be temporarily invested pending the redemption of the 9.85 percent series bonds.
 The new bonds, which will be due Jan. 15, 2023, subject to earlier redemption, were offered to the public at 97.678 percent of the principal amount to yield 7.95 percent. The issue is rated (P)AA+ by Standard and Poor's, (P)Aa2 by Moody's, and (P)AA+ by Duff and Phelps.
 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 securities are being offered only by means of a prospectus, copies of which may be obtained from the underwriters.
 -0- 1/12/93
 /CONTACT: Chuck Ziegler, Wisconsin Electric Power, Co., 414-221-2896/
 (WEC)


CO: Wisconsin Electric Power Co. ST: Wisconsin IN: UTI SU:

BM -- CL013 -- 4183 01/12/93 16:31 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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