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NIAGARA MOHAWK TO OFFER $300 MILLION IN BONDS

Niagara Mohawk Power Corp. has registered with the Securities and Exchange Commission to periodically float up to $300 million in first mortgage bonds.

Proceeds will be used to repay short-term debt and for the Syracuse-based electric utility's construction program and other corporate purposes.

The underwriters may include Merrill Lynch & Co.; Merrill Lynch, Pierce, Fenner & Smith Inc.; Goldman, Sachs & Co.; Salomon Brothers Inc.; The First Boston Corp. and Shearson Lehman Brothers Inc.

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