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ABITIBI-PRICE RECORDS YEAR-OVER-YEARIMPROVEMENT IN FIRST QUARTER RESULTS

 TORONTO, April 19 /PRNewswire/ -- Abitibi-Price Inc. (NYSE: ABY) for the three months ended March 31, 1993, reported a loss from continuing operations of $28.8 million or 42 cents per common share on sales of $471.4 million, an improvement over to its 1992 first quarter loss from continuing operations of $37.9 million or 56 cents per share on sales of $379 million. In the first quarter of 1992 there was a loss from discontinued operations of $3.7 million or 5 cents per common share. In addition, the improvement in the first quarter of 1993 compares with the loss from continuing operations of $51.2 million or 74 cents per common share in the fourth quarter of 1992.
 Ron Oberlander, president and chief executive officer of the company stated that, "This has marked the first step of a financial turnaround ?Abitib i- ice. Although not yet profitable, we have recorded the first year-over-year improvement in the quarterly results of our core business since 1988."
 Newsprint markets in North America showed marked signs of improvement during the first quarter. Consumption increases reflect rising demand, influenced by renewed growth in advertising levels, along with some build-up of customer inventories. The improvement coupled with substantial cut backs in industry capacity, have resulted in a significant reduction in newsprint oversupply.
 Newsprint consumption stayed relatively flat in Europe, but our pricing was negatively impacted by continuing depressed exchange rates for European currencies. Overall consumption in most Asian and Latin American regions increased and our prices have remained stable.
 Improvements in demand and pricing for the company's uncoated groundwood papers continue to lag those for newsprint. Volumes were reduced as customers for these paper grades increased their use of newsprint, as a lower-cost substitute.
 The Office Products division had an excellent first quarter in 1993, increasing both sales and operating profit from the first quarter of 1992. The division's U.S. operations recorded strong sales growth and European operations continue to improve each month.
 Negotiations to transfer the Provincial Papers coated papers mill to its employees are underway and expected to be completed shortly.
 Abitibi-Price, a Canadian-based forest products company, manufactures newsprint and uncoated groundwood papers at eleven mills in North America and markets these products to customers around the world. The company is also a converter and distributor of paper and other information-related products.
 Abitibi-Price Inc.
 207 Queen's Quay West
 Suite 680, Box 102
 Toronto, Ontario M5J 2P5
 SYMBOLS: A (Toronto, Montreal and Vancouver stock exchanges)
 ABY (New York Stock Exchange)
 ABITIBI-PRICE INC.
 Consolidated Earnings
 (Unaudited, in millions of Canadian dollars)
 Three months ended March 31 1993 1992 (1)
 Net sales $ 471.4 $ 379.0
 Cost of sales 445.6 372.0
 Selling and administrative expenses 28.4 23.2
 Depreciation and depletion 21.3 23.0
 Total 495.3 418.2
 Operating loss from
 continuing operations (23.9) (39.2)
 Loss from newsprint joint ventures,
 before income taxes (9.1) (10.7)
 Interest expense - long term (9.1) (6.9)
 - short term (0.2) (0.7)
 Other income and expense - net 0.1 (2.6)
 Loss from continuing operations
 before income taxes (42.2) (60.1)
 Recovery of income taxes 13.4 22.2
 Loss from continuing operations (28.8) (37.9)
 Loss from discontinued operations,
 net of income taxes of $2.2 -- (3.7)
 Loss for the period (28.8) (41.6)
 Provision for dividends on
 preferred shares (0.4) (0.4)
 Loss attributable to common
 shareholders $ (29.2) $ (42.0)
 Per common share:
 Loss from continuing operations $ (0.42) $ (0.56)
 Loss (0.42) (0.61)
 Dividends declared 0.125 0.125
 Weighted average number of
 common shares outstanding
 (millions) 69.3 69.3
 (1) The first quarter of 1992 has been restated as the company reclassified its Building Products, Paper Distribution and Coated Papers businesses to discontinued operations during the third quarter of 1992.
 ABITIBI-PRICE INC.
 Consolidated Segmented Information
 (Unaudited, in millions of Canadian dollars)
 Three months ended March 31 1993 1992
 Sales:
 Newsprint $ 239.4 $ 184.0
 Groundwood papers 71.6 77.5
 Office products and
 converted products 107.4 86.6
 Lumber and other 53.0 31.4
 Intersegment eliminations - (0.5)
 Net sales $ 471.4 $ 379.0
 Operating loss:
 Newsprint $ (14.2) $(33.2)
 Groundwood papers (11.3) (1.8)
 Office products and
 converted products 1.9 (2.8)
 Lumber and other (0.3) (1.4)
 Operating loss $(23.9) $(39.2)
 PRIMARY PRODUCTION
 (Figures in thousands)
 Three months ended March 31 1993 1992
 Newsprint (tons) 476 386
 Groundwood papers (tons) 101 106
 Lumber (mfbm) 1 19
 -0- 4/19/93
 /CONTACT: Eileen Mercier, senior vice president - finance, 416-369-6718 or Robert J. Tait, manager - investor relations, 416-369-6789, both of Abitibi-Price/
 (ABY)


CO: Abitibi-Price Inc. ST: Ontario IN: PAP SU: ERN

WB -- NY092 -- 7456 04/19/93 13:26 EDT
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Date:Apr 19, 1993
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