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WOOLWORTH CORPORATION TO REDEEM 7-3/8 PERCENT SINKING FUND DEBENTURES

WOOLWORTH CORPORATION TO REDEEM 7-3/8 PERCENT SINKING FUND DEBENTURES
 NEW YORK, Oct. 14 /PRNewswire/ -- Woolworth Corporation (NYSE: Z) announced today that it will redeem the F.W. Woolworth Co. 7-3/8 percent sinking fund debentures due April 1, 1996, at 100.00 percent of their principal amount, plus accrued interest. The redemption date will be Nov. 16, 1992. There are $25 million of the debentures outstanding.
 Formal notice of redemption will be sent to debenture holders shortly. Chemical Bank, trustee for the debenture holders, will act as paying agent for the redemption.
 The debentures, offered to the public by F.W. Woolworth Co. in 1971, were assumed in 1989 by Woolworth Corporation as a result of a share exchange under which Woolworth Corporation was established and F.W. Woolworth Co. became a Woolworth Corporation subsidiary.
 Woolworth Corporation, with annual revenues of approximately $10 billion, currently operates more than 8,700 stores worldwide, including some 7,100 specialty stores and more than 1,600 general merchandise stores in 11 countries -- the United States, Canada, Mexico, Germany, England, Belgium, France, Italy, Luxembourg, the Netherlands, and Australia.
 -0- 10/14/92
 /CONTACT: Frances E. Trachter of Woolworth, 212-553-2394/
 (Z) CO: Woolworth Corporation ST: New York IN: REA SU:


GK -- NY063 -- 9933 10/14/92 13:56 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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