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XEROX CALLS $61 MILLION IN CONVERTIBLE DEBENTURES FOR EARLY REDEMPTION

XEROX CALLS $61 MILLION IN CONVERTIBLE DEBENTURES FOR EARLY REDEMPTION
 STAMFORD, Conn., Aug. 24 /PRNewswire/ -- Xerox Corporation (NYSE: XRX) announced today that it has elected to redeem on Oct. 1, 1992, all of its approximately $61 million dollars of outstanding 6 percent convertible subordinated debentures, due Nov. 1, 1995, at a price equal to 100 percent of their principal amount, plus accrued interest.
 Interest on the debentures, originally issued in 1970, will cease to accrue on and after Oct. 1. To receive the redemption payment, debenture certificates must be surrendered to the company, which is acting as transfer agent for the debentures.
 Holders may elect to convert the principal amount of the debentures into Xerox common stock at $92 per share, as adjusted by the terms of the indenture. The conversion privilege expires at the close of business Oct. 1, by which time debenture certificates must have been surrendered to the company.
 Information concerning the redemption or conversion is available from Xerox investor services at 1-800-828-6396.
 -0- 8/24/92
 /CONTACT: Thomas C. Abbott, 203-968-3378, or Judd Everhart, 203-968-3572, both of Xerox/
 (XRX) CO: Xerox Corporation ST: Connecticut IN: CPR SU: OFR


TS -- NY006 -- 2462 08/24/92 09:06 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
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