<NSA INC> OFFERS TO REPURCHASE OWN SHARES
NSA Inc said, in an attempt to
go private and repurchase its shares, it is offering to
exchange a five year subordinated investment note for each
share held by shareholders with more than 600 shares.
    NSA said the investment note will carry a face value of one
dlr and will pay five annual principal installments, as well as
quarterly interest payments on the outstanding principal amount
at an eight pct annual rate.
    NSA added that for shareholders with less than 600 shares
it is offering to purchase their shares for cash at one dlr per
share.
 Reuter
