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To: Braddock Bull who wrote (42932)	4/22/1999 2:47:00 AM
From: dfloydr	Respond to of 95453

FLC news: Interesting dates. Cancellations announced 4/21 Cancellations received 4/15 $300 mm placed 4/15 (see press release below) $1billion placed 3/27 (+/-) Either some big smart investors knew of, and did not care about, the cancellations or they got one heck of a surprise today. I rather suspect the former. The latter would have led to lawsuits within minutes of todays announcement. _______________ FLC announces preferred stock offering....... Thursday April 15, 7:42 pm Eastern Time Company Press Release SOURCE: R&B Falcon Corporation R&B Falcon Corporation Announces Pricing of $300 Million Preferred Stock Offering HOUSTON, April 15 /PRNewswire/ -- R&B Falcon Corporation (NYSE: FLC) announced today that it proposes to make a private placement of $300 million of new Senior Cumulative Redeemable Preferred Stock. These securities will carry a dividend of 13 7/8% per annum and will be subject to mandatory redemption by the company on May 1, 2009.