TRANSWORLD LIQUIDATING <TWT> TO DISTRIBUTE
Transworld Corp Liquidating Trust said
it expects to make an initial distribution to beneficiaries
valued at 20.10 dlrs per unit from the proceeds of the sale of
Hilton International Co.
    The value of the distribution assumes yesterday's closing
price of UAL's common stock of 56.50 dlrs per share.
    Earlier, UAL announced that it completed the purchase of
Hilton International Co for 835.7 mln dlrs in cash and 2.5 mln
shares of UAL Inc common stock.
    Total value of the sale is about 977.2 mln dlrs, Transworld
said.
    Pursuant to the sale, UAL exercised its option to
substitute cash for 200 mln dlrs of debentures and 55,493
shares of common stock, Transworld Liquidating said.
    Each unit of beneficial interest in the trust will be
allocated 0.051675 shares of UAL common stock.
    The aggregate value of the distribution is 975.8 mln dlrs.
The balance of the cash in the trust will be held by the Trust
until April 29 and will be used to satisfy all ouststanding
liabilities and obligations of the trust.
    After satisfaction of its liabilities and obligations, the
trust would make a second distribution to its beneficiaries of
any remaining cash on or about April 29.
    Trading in the beneficial interests, which are listed on
the New York Stock Exchange, will cease after today. In order
to receive the distribution, beneficiaries must surrender the
certificates representing their beneficial interests.
    The trust was formed at year end 1986 to facilitate the
sale of Hilton International.
 Reuter
