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WASHINGTON, Aug 4 (Reuters) - Pop singer Whitney Houston, whose mega-hits include "Where Do Broken Hearts Go" and "I Will Always Love You," plans to sell shares in PepsiCo Inc. the No. 2 soft drink maker whose items include Pepsi, Diet Pepsi and Mountain Dew, a regulatory filing on Wednesday said. Houston intends to sell 43,167 shares valued at more than $1.7 million, a filing her company, Whitney Houston Investments Inc., located in Fort Lee, N.J., made with the Securities and Exchange Commission. Houston was paid in PepsiCo shares as part of an agreement she had with Pepsi-Cola "under which she was available to assist in certain programs that were aimed at the African American community," said PepsiCo spokesman Richard Detwiler, who did not know how many shares she received. Donna Houston, her relative and spokeswoman, did not immediately return a telephone call seeking comment. PepsiCo, based in Purchase, N.Y., currently has more than 1.4 billion shares outstanding. Its stock price closed down $0.125 to $38-3/16 on the New York Stock Exchange. Houston, the singer-actress whose mother is the acclaimed gospel singer Cissy Houston, has sold millions and millions of albums, whose titles include "Whitney," "I'm Your Baby Tonight" and the soundtrack to the movie "The Bodyguard," in which she co-starred with actor Kevin Costner. NEWSFILE: 5 AUGUST 1999 |