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CRAWFORD ANNOUNCES INCREASE IN REVENUE, NET INCOME

 ATLANTA, Jan. 26 /PRNewswire/ -- F.L. Minix, chairman and chief executive officer of Crawford & Company (NYSE: CRDA CRDB), announced today that the company achieved significantly higher revenue and net income during the fourth quarter of 1992 resulting from hurricane- related property claims services provided to insurers in Florida, Louisiana and Hawaii.
 Minix said that revenue for the quarter ended Dec. 31, 1992 was $163 million, a gain of 20 percent over the year-earlier period. Net income was $11.1 million, or $0.31 per share, an increase of 27 percent over the $8.8 million, or $0.25 per share, reported for the fourth quarter of 1991.
 Minix stated that claims form Hurricane Andrew, which hit Florida and Louisiana in August, and Hurricane Iniki, which struck parts of the Hawaiian Islands in September, generated fourth quarter 1992 revenues of $17 million.
 Minix also said the Selling, General and Administrative expenses during the fourth quarter of 1992 included $1.9 million of bad debt expenses relating to accounts receivable from insurance companies which were financially weakened by hurricane and other catastrophic claims during 1992.
 For the full year 1992, the company generated revenues of $598 million, an 11 percent improvement over 1991 revenue of $538 million. 1992 net income advanced nearly 8 percent, to $40.4 million ($1.13 per share), up from $37.4 million ($1.05 per share) for 1991.
 Further information regarding the operating results for the three- month and twelve-month periods ended Dec. 31, 1992 is shown on the attached comparative statements of income.
 Crawford & Company is a diversified service firm which provides claims services, risk management services, health care management and risk control services, as well as risk management information systems, to insurance companies, corporations and self-insured entities.
 CRAWFORD & COMPANY
 Comparative Statements of Income
 (In thousands of dollars, except share and per share data)
 3 mos. ended Dec.31 1992 1991 Pct. chg.
 Services provided $163,430 $136,335 19.9
 Costs and expenses:
 Cost of services $109,616 $ 92,465 18.5
 Selling, general and admin. $ 35,467 $ 29,429 20.5
 Total costs and expenses $145,083 $121,894 19.0
 Pretax income $ 18,347 $ 14,441 27.0
 Income taxes $ 7,220 $ 5,650 27.8
 Net income $ 11,127 $ 8,791 26.6
 Earnings per share $ 0.31 $ 0.25 24.0
 Wtd. avg. no. of Class A and
 Class B common shares outst. 35,882,622 35,704,373
 12 mos. ended Dec. 31 1992 1991 Pct. chg.
 Services provided $597,745 $538,027 11.1
 Costs and expenses:
 Cost of services $410,487 $363,840 12.8
 Selling, general and admin. $120,341 $112,495 7.0
 Total costs and expenses $530,828 $476,335 11.4
 Pretax income $ 66,917 $ 61,692 8.5
 Income taxes $ 26,500 $ 24,250 9.3
 Net income $ 40,417 $ 37,442 7.9
 Earnings per share $ 1.13 $ 1.05 7.6
 Wtd. avg. no. of Class A and
 Class B common shares outst. 35,835,401 35,656,345
 -0- 1/26/93
 /CONTACT: Donald R. Chapman of Crawford & Company, 404-847-4412/
 (CRDA CRDB)


CO: Crawford & Company ST: Georgia IN: INS SU: ERN

RA-BR -- AT007 -- 6306 01/26/93 10:52 EST
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Date:Jan 26, 1993
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