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/C O R R E C T I O N -- RURAL/METRO CORPORATION/

 In NY091, Rural/Metro Corporation Reports Results For Fourth Quarter And Year, Appoints New Board Member, moved yesterday, we are advised by a representative of the company that, in the tabular material, the column heading should read "Year ended June 30" rather than "Three months ended June 30" as originally transmitted.
 The corrected release follows:
 RURAL/METRO CORPORATION REPORTS RESULTS FOR
 FOURTH QUARTER AND YEAR, APPOINTS NEW BOARD MEMBER
 SCOTTSDALE, Ariz., Aug. 18 /PRNewswire/ -- Rural/Metro Corporation (NASDAQ: RURL) today reported net income, for the year ended June 30, 1993, increased 101 percent to $2.7 million, or fully diluted earnings per share of 61 cents, from $1.3 million, or 33 cents per share in the 1992 period.
 Total revenues for the 1993 fiscal year rose 23 percent to $84.1 million from $68.2 million a year earlier, largely the result of a 36 percent increase in ambulance services revenues.
 Net income for the 1993 fourth fiscal quarter was $796,000, or 17 cents per share, a 64 percent increase over net income of $484,000, or 12 cents per share, for the same period last year.
 Fourth quarter revenue increased to $22 million from $18 million, a 22 percent gain over the 1992 fourth quarter.
 Robert Manschot, president and chief executive officer said, "We are encouraged that, while annual revenues were up significantly, the improvement in earnings was even stronger." He noted, "The investments we have made over the past several years in management systems, such as centralized billing and collection systems, have resulted in productivity gains and increased profitability."
 "We believe our current systems and controls position us to continue our growth internally as well as through acquisitions, and enable us to operate profitably in both large and small communities."
 The company completed four acquisitions in fiscal 1993.
 Rural/Metro recently appointed Warren S. Rustand to its board of directors. Mr. Rustand is chairman and chief executive officer of Aravaipa Canyon Co., Ltd., a health care products company; chairman of the Cambridge Co., Ltd., a merchant bank and management consulting firm; and a director of Varity Corporation (NYSE: VAT), a NYSE company with $3.5 billion in annual revenue. He also served as appointments secretary to President Ford from 1974 to 1976.
 "Warren Rustand will be an extremely strong outside director for Rural/Metro," Manschot said. "His business, financial and political experience will be very beneficial as the company continues its efforts to expand into new markets."
 Rural/Metro completed its initial public offering (IPO) in July of 1993 at $12.50 per share. The more than $20 million raised by the IPO will be used for potential acquisitions, to reduce debt and for other general corporate purposes.
 Headquartered in Scottsdale Arizona, Rural/Metro Corporation provides "911" and general transport ambulance services, fire protection services and other safety related services to municipal, residential, commercial and industrial customers. Rural/Metro responds to more than 300,000 calls annually for its services in 60 communities located in Arizona, Florida, Oregon, Tennessee and Texas.
 RURAL/METRO CORPORATION AND SUBSIDIARIES
 Summary Income Statement
 (In thousands, except per share amounts)
 Year ended June 30 1993 1992
 Revenue $ 84,081 $ 68,221
 Operating income 7,052 4,559
 Net income 2,685 1,334
 Earnings per common stock and
 common stock equivalents outstanding
 Primary .63 .33
 Fully diluted .61 --
 Weighted average number of common
 and common stock equivalents outstanding
 Primary 4,171 3,970
 Fully diluted 4,414 --
 -0- 8/19/93
 /CONTACT: Mark Liebner, chief financial officer of Rural/Metro Corporation, 602-481-3229/
 (RURL)


CO: Rural/Metro Corporation ST: Arizona IN: SU: ERN

TS -- NY001A -- 4274 08/19/93 11:10 EDT
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Publication:PR Newswire
Date:Aug 19, 1993
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