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YORK INTERNATIONAL ANNOUNCES EMPLOYEE STOCK PLANS TO BE FUNDED BY STOCK REPURCHASE

 YORK INTERNATIONAL ANNOUNCES EMPLOYEE STOCK PLANS
 TO BE FUNDED BY STOCK REPURCHASE
 YORK, Pa., Aug. 27 /PRNewswire/ -- York International Corporation (NYSE:


YRK) announced today that its board of directors authorized the company to repurchase up to 3.1 million shares of its Common Stock over the next four years to fund its recently adopted Employee Stock Purchase Plan and Omnibus Stock Plan.
 The Employee Stock Purchase Plan and the Omnibus Stock Plan provide for the issuance of up to 1.5 million and 1.6 million shares, respectively, and are both subject to shareholder approval. The stock repurchases will be made from time to time in the open market and privately negotiated transactions.
 Robert N. Pokelwaldt, York's president and chief executive officer said, "We believe that these two employee stock plans will provide valuable incentives to a broad range of York employees by giving them a direct equity stake in the company. We further believe that by funding the required shares through stock repurchases, we will mitigate the dilutive impact such employee plans would otherwise have."
 York International Corporation is a full-line, global manufacturer of heating, ventilating, air conditioning and refrigeration products. York is the third-largest HVACR manufacturer in the United States and a leading competitor in the industry internationally. The company's products are sold in more than 100 countries and York has 12,000 employees worldwide.
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 -0- 8/27/92
 /CONTACT: Helen S. Marsteller of York International, 717-771-7451/ CO: York International ST: Pennsylvania IN: SU:


MJ-JS -- PH035 -- 4148 08/27/92 17:27 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
Words:256
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