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FAHNESTOCK VINER HOLDINGS INC. REPORTS EARNINGS

 TORONTO, July 22 /PRNewswire/ -- Fahnestock Viner Holdings Inc. (NASDAQ Small Cap: FAHNF) today released the following results:
 FAHNESTOCK VINER HOLDINGS INC.
 (Amounts in thousands of U.S. dollars, except per share amounts)
 (Unaudited)
 Second quarter Six months
 Periods ended June 30 1993 1992 1993 1992
 Revenue $38,515 $33,968 $79,385 $75,138
 Net Profit $ 4,378 $ 3,840 $10,138 $ 9,134
 Net profit per share
 Primary $0.37 $0.33 $0.85 $0.79
 Fully-diluted $0.36 $0.31 $0.81 $0.75
 Profit for the six months ended June 30, 1993 was US$10,138,000 or $0.85 per share compared to earnings of US$9,134,000 or $0.79 per share in 1992, an increase of 11 percent. The weighted average number of shares outstanding in 1993 was 11,931,309, an increase of 3 percent over 11,587,281 outstanding in 1992. The book value per share at June 30, 1993 was US$5.83, an increase of 25 percent compared to US$4.68 at June 30, 1992.
 Second quarter earnings for 1993 were US$4,378,000 or $0.37 per share compared to US$3,840,000 or $0.33 in 1992, an increase of 14 percent. Revenue for the second quarter of 1993 was US$38,515,000, an increase of 13 percent over US$33,968,000 for the same period in 1992.
 The improvement in the 1993 second quarter results compared to 1992 is primarily due to a strong quarter from increases in underwriting and advisory fees.
 The financial markets continued to experience high volumes through most of the second quarter of 1993. Continuing downward pressure on interest rates and the resultant search by investors for alternative investment strategies has resulted in increased profits for Fahnestock. Acquisitions made in prior years continue to contribute to and enhance the profitability of the company.
 -0- 7/22/93
 /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

WB-MG -- NY074 -- 4677 07/22/93 15:07 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
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