FIRST MISSISSIPPI <FRM> MAY REPURCHASE STOCK
First Mississippi Corp said in
view of the recent decline in its stock price due to the drop
in the stock market, it is considering a repurchase of its
common stock.
    The company did not say how many shares it would repurchase
but said that it has about 13 mln dlrs available for such
actions.
    The company also said its first quarter earnings, to be
released next week, will be substantially better than the 33
cts per share last year.
   
    Results will also include a gain of about 44 cts per share
from the sale of a portion of the company's interest in
Melamine Chemicals, the company said.
    The company said its plan for corporate restructuring is
proceeding on schedule and that proceeds from the 49 mln dlr
coal supply contract settlement with <Tampa Electric Co> have
been received and will be used to reduce debt.
    First Mississippi is a diversified resource company.
 Reuter
