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DUFF & PHELPS CORPORATION REPORTS RECORD FIRST QUARTER EARNINGS

 CHICAGO, May 4 /PRNewswire/ -- Duff & Phelps Corporation (NYSE: DUF) today announced that earnings for its first quarter ended March 31 more than doubled to $5.8 million from $2.5 million (before extraordinary item) in the first quarter of 1992. Earnings per share increased 72 percent from 18 cents to 31 cents. The weighted average number of shares outstanding increased 34 percent, reflecting a stock offering late in the first quarter of 1992. The proceeds of the stock offering were used to retire all of the company's outstanding senior subordinated debt. After the $5.4 million extraordinary loss related to the early extinguishment of debt, the 1992 first quarter loss was $2.9 million or 21 cents per share.
 Revenues for the 1993 first quarter were $23.7 million, an increase of 17 percent from the first quarter of last year.
 Francis E. Jeffries, president and chief executive officer of Duff & Phelps Corporation, said, "We are extremely pleased to announce that revenues and earnings were at record levels for any quarter in the history of the company. New clients, new debt offerings, and increased fees from market appreciation in the stock and bond portfolios under management contributed to the excellent results."
 In addition, the company declared a quarterly dividend of $.04 per share payable June 10, 1993, to shareholders of record May 21, 1993.
 Duff & Phelps provides investment management, credit rating, investment research and financial consulting services to institutions, corporations and individuals.
 DUFF & PHELPS CORPORATION
 Quarter ended March 31 1993 1992
 Revenues $23,698,000 $20,285,000
 Income before extraordinary item 5,841,000 2,515,000
 Extraordinary item(A) -- (5,448,000)
 Net income (loss) 5,841,000 (2,933,000)
 Earnings per share:
 Income before extraordinary item $ 0.31 $ 0.18
 Net Income (loss) 0.31 (0.21)
 Weighted average number of shares 18,632,000 13,926,000
 (A) -- Early extinguishment of debt
 -0- 5/4/93
 /CONTACT: Francis E. Jeffries, president and CEO, 312-630-4501, or Lorrie P. Zogg, chief financial officer, 312-630-4515, both of Duff & Phelps Corporation/
 (DUF)


CO: Duff & Phelps Corporation ST: Illinois IN: FIN SU: ERN

TS -- NY038 -- 4248 05/04/93 10:58 EDT
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Publication:PR Newswire
Date:May 4, 1993
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