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ZENITH ANNOUNCES SALE OF COMMON STOCK, SIGNS $90 MILLION CREDIT AGREEMENT

 GLENVIEW, Ill., May 24 /PRNewswire/ -- Zenith Electronics Corp. (NYSE: ZE) announced today that it has sold 500,000 shares of newly issued common stock to institutional investors for whom The Crabbe Huson Company of Portland, Ore., serves as investment advisor.
 Separately, the $90 million revolving credit agreement first announced in April has been signed.
 The 500,000 additional shares were purchased at a price of $6.75 per share, representing an aggregate investment of $3.4 million. The shares were sold pursuant to a shelf registration statement for 5 million shares.
 With this transaction, investors for whom Crabbe Huson serves as investment advisor own 2 million shares, or about 6.6 percent of Zenith's outstanding shares. Crabbe Huson said the purpose of acquiring the additional shares in Zenith is to achieve long-term appreciation.
 The $90 million revolving credit agreement was signed with a lending group led by General Electric Capital Corp. The agreement runs through Dec. 31, 1994. The company said it believes that the new agreement, which replaces its existing $60 million bank agreement, should provide the financial flexibility Zenith needs to carry out its business plan.
 -0- 5/24/93
 /CONTACT: John Taylor, 708-391-8181, or (investors) Seymour Lipton 708-391-7713, both of Zenith Electronics Corp./
 (ZE)


CO: Zenith Electronics Corp. ST: Illinois IN: CPR SU:

TS -- NY019 -- 1541 05/24/93 09:03 EDT
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Publication:PR Newswire
Date:May 24, 1993
Words:225
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