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FAHNESTOCK VINER HOLDINGS INC. REPORTS EARNINGS

 TORONTO, Jan. 27 /PRNewswire/ -- Fahnestock Viner Holdings today reported the following:
 FAHNESTOCK VINER HOLDINGS
 (Expressed in thousands of US dollars, unaudited)
 Fourth quarter ended Year ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Revenue $35,245 $34,110 $140,184 $116,176
 Expenses $30,520 $29,179 $117,235 $101,310
 Profit before
 taxes $ 4,725 $ 4,931 $ 22,949 $ 14,866
 Income tax
 provision $ 2,088 $ 1,895 $ 9,126 $ 5,465
 Net Profit $ 2,637 $ 3,036 $ 13,823 $ 9,401
 Profit per share:
 Basic $0.22 $0.27 $1.18 $0.83
 Fully diluted $0.20 $0.24 $1.12 $0.80
 Fahnestock Viner Holdings Inc. reported record revenues and earnings for the second year in a row. Unaudited earnings for the year ended Dec. 31, 1992 were US$13,823,000 or $1.18 per share, an increase of 47 percent compared to earnings of US $9,401,000 or $0.83 per share in 1991. Total revenue in 1992 of US $140,184,000 represents an increase of 21 percent over revenue of US $116,176,000 for 1991. Earnings per share are based on the weighted average number of Class A non-voting and Class B shares outstanding of 11,757,833 in 1992; 11,288,180 in 1991, an increase of 4 percent in 1992. As at Dec. 31, 1992, a total of 11,927,210 Class A non-voting and Class B shares are outstanding. Book value per share is U.S. $5.03.
 Fourth quarter earnings in 1992 were US $2,637,000 or $0.22 per share, compared to US $3,036,000 or $0.27 per share in 1991. There was a marked slow-down in industry underwriting activity in the fourth quarter compared to unusually high levels in 1991. In the fourth quarter of 1992, the company increased its overall income tax provision for the year.
 Pre-tax profit of US $22,949,000 in 1992 compared to US $14,866,000 in 1991 (an increase of 54 percent) reflects the sharp improvement in the company's 1992 financial results compared to 1991. 1992 earnings were aided by tight control over operating costs as well as significant improvements in all aspects of the business.
 In recognition of the company's strong earnings pattern of recent years, the company announced today the adoption of a regular dividend policy which anticipates the annual payment of a regular dividend in February of each year. The first annual dividend of U.S. $0.10 per Class A non-voting and Class B share will be paid on Feb. 25, 1993 to shareholders of record on Feb. 11, 1993.
 The company expects to mail its annual report including audited financial statements in mid-April, 1993.
 -0- 1/27/93
 /CONTACT: A.G. Lowenthal, 212-668-8000, or E.K. Roberts, 416-364-3397, both for Fahnestock Viner Holdings Inc./
 (FAHNF)


CO: Fahnestock Viner Holdings Inc. ST: Ontario IN: FIN SU: ERN

AH -- NY109 -- 9817 01/27/93 15:37 EST
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Date:Jan 27, 1993
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