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PACIFICORP OKS REDEMPTION OF STOCK

SHARE PACIFICORP OKS REDEMPTION OF STOCK

Directors of PacificCorp, parent company of Utah Power, have authorized redemption on Dec. 29 of its $50 million in Series D market Auction No Par Serial Prefferred Stock.

A board committee has been authorized to call other auction rate preferred stocks for redemption, a spokesman said.PacifiCorp said the redemption is to lower the costs of the remaining auction preferred series outstanding, given that auction market investor participation has become more limited for issues with BBB+ or A- ratings.

Management said it will consider recommending the redemption of other series of auction rate prefferred stocks as may be appropriated. The redemptions will be temporarily financed with the proceeds of borrowings.