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ACQUISITION CAPABILITY REPORTS EARNINGS

 ACQUISITION CAPABILITY REPORTS EARNINGS
 NEW YORK, Oct. 6 /PRNewswire/ -- On Oct. 1, 1992, Acquisition


Capability, Inc. (NASDAQ: ACQN) (ACI), filed with the Securities and Exchange Commission its annual report for the fiscal year ended June 30, 1992. During fiscal 1992 total revenues of $8,067,581 were reported, as compared to $4,460,466 for fiscal year 1991. Operating expenses, including cost of sales, during fiscal 1992 were $7,961,583, compared to $4,359,311 for fiscal 1991, with gross profit from operations of $910,728 during fiscal 1992, as compared to $588,560 during fiscal 1991. The substantial increase in gross revenues during fiscal 1992 was primarily due to the expansion of Actrade's operations through (1) the introduction of a new line of commercial and industrial air conditioning equipment in September, 1991 and (2) increased sales of existing product lines from the expansion of its overseas distribution network.
 Through fiscal 1992, ACI's four principal overseas markets were (1) the Middle East, (2) South America (3) Europe and (4) the Pacific Rim, with sales in the newly developed Eastern European markets having begun during the last quarter of fiscal 1991. During fiscal 1992, the most significant increase in any single market occurred in the Pacific Rim where sales increased by 250 percent over fiscal 1991. The increase in this market segment was principally due to increased sales by the new Air Conditioning and Refrigeration Division.
 After selling, general and administrative expenses, depreciation expense, interest income and expenses, and provision for taxes, including an extraordinary benefit from utilization of net operating loss carryforward, the company realized a net operating profit of $94,308 for fiscal 1992, as compared to $92,409 for fiscal 1991. As mentioned above, ACI's significant increase in gross revenues during fiscal 1992 was principally due to the introduction of new product lines, specifically its new Air Conditioning and Refrigeration Division. However, as is typical with the introduction of new product lines, the company also incurred substantial expenses in connection therewith. Management expects that extraordinary expenses associated with new product introductions will stabilize during fiscal 1993 and decrease thereafter.
 At June 30, 1992, total assets increased to $3,697,120, as compared to $2,336,735 at June 30, 1991, with stockholders equity at June 30, 1992 increasing to $1,311,735 from $1,217,427 at June 30, 1991. Following is selected financial information about ACI as reported in its Annual Report on Form 10-K:
 ACQUISITION CAPABILITY, INC.
 Summary Balance Sheet Data
 Year Ended June 30 1992 1991 1990 1989 1988
 Total assets $3,697,120 $2,336,734 $2,479,519 $630,063 $208,006
 Total current
 assets 3,528,090 2,165,762 2,331,731 543,747 171,865
 Total current
 liabilities 2,005,135 1,042,566 1,358,530 525,069 1,084
 Stockholders
 equity 1,311,735 1,217,427 1,125,018 104,994 60,922
 Retained earning
 (deficit) 178,013 83,705 (8,704) (53,728) 922
 ACQUISITION CAPABILITY, INC.
 Summary Earnings Data
 Year Ended June 30 1992 1991 1990 1989 1988
 Total revenues $8,067,581 $4,460,466 $3,322,917 $1,616,619 $628,146
 Cost of sales 7,156,853 3,871,906 2,754,825 1,261,260 386,594
 Selling, gen.
 & admin. exp. 804,730 487,405 516,597 391,184 225,994
 Interest expense (55,912) (57,100) (29,668) (19,220) (4,870)
 Interest income 45,680 58,179 23,197 9,186 --
 Income (loss) before
 taxes and extraord.
 item 95,766 102,234 45,024 (55,045) 10,688
 Income tax
 (benefit) 1,458 14,993 12,304 (395) 3,206
 Net income (loss)
 before extraord.
 item 94,308 87,241 32,720 (54,650) 7,482
 Extras 0 5,168 12,304 0 2,811
 Net income (loss) 94,308 92,409 45,024 (54,650) 10,293
 Earnings per share 0.02 0.02 nil nil nil
 -0- 10/6/92
 /CONTACT: Amos Aharoni, financial executive, of Acquisition Capability, Inc., 212-563-1036/
 (ACQN) CO: Acquisition Capability, Inc. ST: New York IN: SU: ERN


TM-LD -- NY003 -- 6915 10/06/92 09:01 EDT
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Date:Oct 6, 1992
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