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PACIFICORP OFFERS TO EXCHANGE DEBT SECURITIES FOR STOCKS

SHARE PACIFICORP OFFERS TO EXCHANGE DEBT SECURITIES FOR STOCKS

PacifiCorp, parent company of Utah Power, said Wednesday it is offering to exchange a new issue of quarterly income debt securities, known as QUIDS, bearing interest of 8.55 percent and due 2025, for up to all of the 5 million outstanding shares of its $1.98 no par serial preferred stock, Series 1992 ($25 stated value).

A spokesman for the company, based in Portland, Ore., said the main purpose of the exchange offer is to improve the company's after-tax cash flow, a benefit that arises from the tax deduction associated with the interest payments on the QUIDS securities.The exchange offer will be made only by prospectus, a copy of which may be obtained by writing or calling the information agent, Georgeson & Co. Inc., Wall Street Plaza, New York, NY 10005 at 1-800-223-2064.