ABM Industries Inc. Surpasses $1 Billion in Annual Sales with Record Profits.

SAN FRANCISCO--(BUSINESS WIRE)--Dec. 16, 1996--ABM Industries Inc. (NYSE:ABM) today reported double-digit growth to all-time high revenues, net income and earnings per share for fiscal 1996.

President and chief executive officer William W. Steele attributes this "triple-double" to the accelerated pace of outsourcing and privatization to ABM's family of services in general, and in particular to rising multi-service sales, inter-service sales referrals, and national account sales.

"Recent acquisitions are also contributing to our top and bottom lines," according to Steele.

For the year ended Oct. 31, 1996, ABM's revenues were $1,086,925,000, 13% above the $965,381,000 reported for 1995. Net income was $21,720,000, a 19% increase compared to $18,219,000 last year. Earnings per share increased by 14% to $1.05 in 1996 from $0.92 in 1995.

In the fourth quarter of 1996, revenues increased 14% to $288,544,000 from $253,131,000 for the same period last year. Net income was $6,936,000, an increase of 18% from $5,879,000 in the fourth quarter of 1995. Earnings per share for the fourth quarter of 1996 were $0.33, up 14% from the $0.29 reported for 1995.

ABM Industries Inc. is the largest American-based facility services contractor listed on the New York Stock Exchange.

With more than 45,000 employees serving thousands of commercial, industrial and institutional customers in hundreds of cities across the United States, ABM's family of services includes American Building Maintenance, American Commercial Security, Ampco System Parking, Amtech Elevator, Amtech Engineering, Amtech Lighting, CommAir Mechanical and Easterday Janitorial Supply.

The following chart contains additional financial data. For any further information, please contact our executive vice president, Martinn Mandles, at 213/879-7000. -0-

                        ABM INDUSTRIES INC.

                                  1995            1996     Increase
Twelve Months Ended Oct. 31:

Revenues                      $965,381,000  $1,086,925,000    13%
Income before Income Taxes      31,412,000      38,105,000    21%
Net Income                      18,219,000      21,720,000    19%
Net Income per Common and
 Common Equivalent Share              $.92           $1.05    14%
Common and Common Equivalent
 Shares                         19,180,000      20,241,000     6%

Three Months Ended Oct. 31:

Revenues                      $253,131,000    $288,544,000    14%
Income before Income Taxes      10,136,000      12,169,000    20%
Net Income                       5,879,000       6,936,000    18%
Net Income per Common and
 Common Equivalent Share              $.29            $.33    14%
Common and Common Equivalent
 Shares                         19,620,000      20,575,000     5%

Note: All shares and per share amounts reflect a 2-for-1 stock split
on July 15, 1996.

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CONTACT: ABM Industries Inc.

Martinn Mandles, 213/879-7000