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AMERICAN BUSINESS PRODUCTS REPORTS RECORD SALES AND EARNINGS BEFORE SPECIAL CHARGES

 ATLANTA, Feb. 2 /PRNewswire/ -- American Business Products, Inc. (NYSE: ABP) today reported record sales for the fourth quarter and the year and record earnings for the year before special one-time, non-cash charges resulting from adoption of revised accounting standards.
 The company announced in December it would adopt the mandated standards in 1992.
 For the year, sales increased to $463.5 million, up 3.8 percent from $446.5 million for 1991.
 Income before the special charges totaled $19.6 million, or $1.83 per share, up 18.8 percent from $16.5 million, or $1.55 per share for 1991. Net income, after current year, non-cash after-tax expenses of $12.5 million resulting from adoption of Statement of Financial Accounting Standards No. 106, relating to post-retirement healthcare benefits, and No. 109 relating to deferred income taxes, retroactive to first quarter 1992, was $7.1 million, or $.67 per share, and included $2.9 million, or $.27 per share, of non-recurring gain from sale of real estate and $1.3 million in current year after-tax expenses relating to FASB 106.
 Fourth quarter sales advanced to $117.1 million, up 1.6 percent over $115.2 million for the fourth quarter of 1991. Fourth quarter net income of $4.6 million was reduced by $336,000 of current quarter expenses resulting from adoption of Statement of Financial Accounting Standards No. 106, and compared with net income of $4.9 million for 1991. Net earnings per share for the fourth quarter of 1992 were reduced to $.43 after accounting for current quarter expenses of $.03 per share relating to adoption of FASB 106, compared with $.46 the previous year.
 "We are very pleased that our company increased sales for the 54th consecutive year, which is significant given the economic doldrums of the past several years," said Thomas R. Carmody, president and chief executive officer. "We also had another record year in profits before recognizing the non-cash accounting changes, and for that performance, we applaud the people of ABP."
 ABP's operating companies and their products and services are: Curtis 1000 Inc., envelopes, labels and business forms; Vanier Business Forms & Services, business forms; BookCrafters USA, Inc., book printing and distributing; American Fiber-Velope Mfg. Co., specialty envelopes and filing systems; and Jen-Coat, Inc., specialty extrusion coating and laminating of packaging. ABP is a joint venture partner in Curtis 1000 Europe GmbH, which produces and markets envelopes in Europe with facilities in Germany, England, Luxembourg and Poland.
 AMERICAN BUSINESS PRODUCTS, INC.
 (Unaudited)
 3 mos. ended Dec. 31 1992 1991
 Net sales $117,099,000 $115,217,000
 Income before income taxes 7,077,000 7,719,000
 Provision for income taxes 2,441,000 2,841,000
 Net income 4,636,000 4,878,000
 Avg. number of common shares outst. 10,686,531 10,682,758
 Net income per common share .43 .46
 Year ended Dec. 31 1992 1991
 Net sales $463,470,000 $446,533,000
 Income before income taxes and
 cumulative effect of changes in
 accounting principles 30,479,000 26,736,000
 Provision for income taxes 10,897,000 10,248,000
 Income before cumulative effect of
 changes in accounting principles 19,582,000 16,488,000
 Cumulative effect of changes in
 accounting principles 12,449,000 ---
 Net income 7,133,000 16,488,000
 Avg. number of common shares outst. 10,690,937 10,670,937
 Per common share:
 Income before cumulative effect of
 changes in accounting principles 1.83 1.55
 Net income .67 1.55
 -0- 2/2/93
 /CONTACT: T.R. Carmody of American Business Products, 404-953-8300/
 (ABP)


CO: American Business Products, Inc. ST: Georgia IN: SU: ERN

BN-BR -- AT012 -- 1939 02/02/93 13:44 EST
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Date:Feb 2, 1993
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