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WORLDCORP ANNOUNCES $65 MILLION CONVERTIBLE DEBT OFFERING

 WORLDCORP ANNOUNCES $65 MILLION CONVERTIBLE DEBT OFFERING
 HERNDON, Va., May 19 /PRNewswire/ -- WorldCorp (NYSE: WOA) announced


today that it will issue $65,000,000 of seven percent convertible subordinated debentures due 2004. The debentures will trade on the New York Stock Exchange and are convertible into shares of common stock of WorldCorp at 11.06 per share. National Westminster Bank PLC, Capital Markets Branch acted as agent for the company in connection with this offering.
 Commenting on the offering, T. Coleman Andrews, III, chief executive officer and president said, "The convertible debt placement completes another step in solidifying the capital structure of WorldCorp. This offering will significantly reduce the fixed interest charges of the company while adding working capital for general corporate purposes and to support the future growth of US Order. WorldCorp's principal cost of debt capital will be reduced from 13-7/8 percent to seven percent with annualized interest savings to the company of between $3-$4 million."
 WorldCorp operates in two business areas: air transportation and transaction processing. WorldCorp's air transportation subsidiaries, World Airways and KeyAir, are leading worldwide providers of air transportation for commercial and government customers. WorldCorp's transaction processing business consists of its 45 percent ownership in US Order, a company that has developed patented automated ordering services including grocery, mail order catalog and banking services from the home as well as commercial ordering applications.
 -0- 5/19/92
 /CONTACT: A. Scott Andrews vice president-finance and treasurer of WorldCorp, 703-834-9291/
 (WOA) CO: WorldCorp ST: Virginia IN: TRN SU: OFR


SM-LR -- NY065 -- 1842 05/19/92 12:45 EDT
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Publication:PR Newswire
Date:May 19, 1992
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