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CLUB MED REPORTS NET INCOME FOR FISCAL YEAR ENDED OCT. 31, 1993

 NEW YORK, Jan. 11 /PRNewswire/ -- Club Med, Inc. (NYSE: CMI), owns, operates, or manages 27 villages (resorts) and 7 villas (inns), in the United States, Mexico, the Caribbean, Asia, the South Pacific, and the Indian Ocean Basin, and markets and manages two cruise ships, Club Med 1 and Club Med 2, in conjunction with Club Mediterranee S.A.
 The company today reported net income of $30,079,000 for the fiscal year ended Oct. 31, 1993 compared with $25,825,000 in 1992, an increase of 16.5 percent. Net cash flow (net income plus depreciation and amortization) was $53,999,000 compared with $46,034,000 in 1992, an increase of 17.3 percent. Revenues of $556,503,000 increased $40,079,000, or 7.8 percent over 1992. Net income per share increased 15.5 percent in 1993, to $2.09 from $1.81, calculated on the basis of the average number of shares outstanding of 14,363,000 in 1993 and 14,300,000 in 1992.
 As anticipated and reported in September, the slowdown in Europe affected the last quarter's results. Consequently, net income was $1,509,000 for the fourth quarter ended Oct. 31, 1993 compared with $3,888,000 for the same quarter of the prior year. Revenues of $118,402,000 increased $4,503,000 from $113,899,000 in the prior year. Net income per share for the quarter was $0.10 compared with $0.27 in the prior year, calculated on the basis of the average number of shares outstanding of 14,408,000 in 1993 and 14,337,000 in 1992.
 The company's performance in 1993 was helped by a strengthening economy in the United States and the continued economic boom in certain secondary Asian markets.
 -0- 1/11/94
 /CONTACT: Joseph J. Townsend, secretary and treasurer of Club Med, Inc., 212-977-2150/
 (CMI)


CO: Club Med, Inc. ST: New York IN: LEI SU: ERN

LD -- NY079 -- 1144 01/11/94 16:59 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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