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CASH AMERICA INTERNATIONAL ANNOUNCES THIRD QUARTER RESULTS

 CASH AMERICA INTERNATIONAL ANNOUNCES THIRD QUARTER RESULTS
 FORT WORTH, Texas, Oct. 20 /PRNewswire/ -- Cash America


International, Inc. (NYSE: PWN), the nation's largest operator of pawnshops, today reported earnings and store growth for the third quarter ended Sept. 30, 1992.
 President Daniel R. Feehan announced third quarter net income of $3.1 million, an increase of 12 percent over last year's $2.8 million. Revenues grew 38 percent to $44.7 million, which reflects the company's increase of 58 new stores in the past year as well as a 9 percent growth in same store sales compared to 1991. Earnings per share for the current quarter of $.11 were unchanged compared to the same period in 1991.
 Net income for the first nine months of the year reached a record $8.7 million, or $.31 per share, on a 35 percent increase in revenues to $128 million. After excluding non-operating items of $.9 million (gains on sales of securities and income tax benefits from the utilization of a capital loss carryforward) from last year's results, earnings for the first nine months of 1992 reflect an increase of 27 percent over last year's operating income of $6.9 million.
 Loans outstanding of $46.6 million at Sept. 30, 1992, were up 67 percent over the same date in 1991. This increase reflects an $11.1 million loan balance in the United Kingdom, loan growth in new domestic stores, and 15 percent same store increase since Sept. 30, 1991. Inventory on hand at Sept. 30, 1992, of $48.6 million was up 41 percent over the same date in 1991.
 At Sept. 30, 1992, Cash America was operating 232 pawnbroking outlets in the world -- 206 in eight states in the United States and 26 in the United Kingdom. The company has started 22 new locations and acquired six locations in the United States during the first nine months of 1992, with five of those startups and one acquisition occurring in the third quarter. Cash America acquired 26 pawnshops in the United Kingdom on Feb. 11, 1992, and operates them under the name Harvey & Thompson. These foreign operations contributed $1.6 million to net income in the first nine months, and $.7 million in the third quarter.
 The company is preparing for a strong fourth quarter selling season, as it expects the soft economy nationwide to promote bargain shopping for the holidays. According to Feehan, "We at Cash America are excited about the sales opportunities during the holiday season as customers realize the savings available at pawnshops. A fourth quarter advertising campaign will emphasize bargains available on both pre-owned goods and certain new merchandise selections. We offer an economical alternative for the value-conscious holiday shopper."
 Cash America's expansion rate has been fueled in the first nine months by starting up a greater number of stores than in past periods. Jack R. Daugherty, chairman and CEO of the company, stated, "We believe this emphasis on startups will lead to an even better quality pawnshop and higher value for our shareholders. I am excited about the possibilities this provides to our long-term store expansion and development program."
 CASH AMERICA INTERNATIONAL, INC.
 OPERATING RESULTS
 Third Quarter
 1992 1991
 Revenues $ 44,734,000 $ 32,477,000
 Operating income 3,107,000 2,676,000
 Securities gains, net of tax -- 108,000
 Net income $ 3,107,000 $ 2,784,000
 Per share:
 Operating income $.11 $.11
 Securities gains, net of tax -- --
 Net income $.11 $.11
 Weighted average shares (A) 29,194,000 24,572,000
 Nine Months
 1992 1991
 Revenues $127,682,000 $ 94,374,000
 Operating income 8,719,000 6,853,000
 Securities gains, net of tax -- 469,000
 Extraordinary item-tax benefit -- 393,000
 Net income $ 8,719,000 $ 7,715,000
 Per share:
 Operating income $.31 $.28
 Securities gains, net of tax -- .02
 Extraordinary item-tax benefit -- .01
 Net income $.31 $.31
 Weighted average shares (A) 28,559,000 24,564,000
 (A) -- Both primary and fully diluted.
 The U.K. operations consist of 26 pawnshops in the United Kingdom acquired in February 1992 for approximately $26 million. Included in the company's consolidated financial statements are the following amounts for this foreign subsidiary as of Sept. 30, 1992, and for the three months ended Sept. 30, 1992, and for the period from Feb. 11, 1992 (date of acquisition), to Sept. 30, 1992:
 BALANCE SHEET DATA 9/30/92
 Cash $ 2,865,000
 Service charge receivables 2,060,000
 Pawn loans 11,119,000
 Inventory 541,000
 Property and equipment, net 1,166,000
 Intangible assets, net 12,365,000
 Other assets 358,000
 Total assets $ 30,474,000
 Period From
 Three Months 2/11/92
 Ended to
 9/30/92 9/30/92
 INCOME STATEMENT DATA:
 Revenues:
 Sales $ 579,000 $1,281,000
 Pawn service charges 1,955,000 4,729,000
 Other income 71,000 143,000
 Total revenues 2,605,000 6,153,000
 Cost of sales 422,000 922,000
 Net revenues 2,183,000 5,231,000
 Expenses:
 Operating 809,000 1,886,000
 Amortization 86,000 201,000
 Depreciation 35,000 78,000
 Administrative 211,000 498,000
 Total expenses 1,141,000 2,663,000
 Income before taxes 1,042,000 2,568,000
 Provision for income taxes 372,000 922,000
 Net income $ 670,000 $1,646,000
 -0- 10/20/92 R
 /CONTACT: Daniel R. Feehan, president, or Michele L. Rosenblum of Cash America, 817-335-1100/
 (PWN) CO: Cash America International, Inc. ST: Texas IN: FIN SU: ERN


GK -- NY085 -- 2416 10/20/92 14:43 EDT
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