Grupo Dina extends exchange for 8% convertibles

New York, July 6 - Consorcio G Grupo Dina, SA de CV said it has extended its exchange offer for its outstanding 8% convertible subordinated debentures Due Aug. 8, 2004 and the related solicitation of waivers.

The offer will now end at 5 p.m. ET on July 19.

Dina is offering one contingent value right for each $1,000 principal amount of convertibles tendered and a waiver payment of $50 for each $1,000 principal amount for which a waiver is delivered.

Holders may not tender without granting waivers and vice versa.

The contingent value rights entitle holders to certain net cash proceeds received by the company on the occurrence of specified events.

The waiver relates to payment defaults and legal claims.

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