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FAIRCHILD COMMENTS ON STOCK PRICE FLUCTUATIONS

 CHANTILLY, Va., Oct. 7 /PRNewswire/ -- The Fairchild Corporation (NYSE: FA) has observed fluctuations in the value of its stock and knows of no reason for such market activity. Fairchild continues to have strong financial reserves primarily consisting, as of Sept. 30, 1993, of approximately $90 million of cash and investments, and amount sufficient to service its indebtedness for more than two years without having to depend on an increase in operating cash flow. In addition, the company maintains investments in publicly traded affiliates having a market value of approximately $180 million. Further, Fairchild continues to pursue its recapitalization program, adopted in fiscal 1992, portions of which were consummated during the last fiscal year.
 While Fairchild continues to show excellent performance in its equity holdings, Rexnord Corporation and Banner Aerospace, Inc., as well as record results from its communications services and industrial products segments, it has suffered from the decline in sales and profits in its aerospace fasteners segment, due to the worldwide decline in the aerospace markets. Fairchild does, however, expect improvements in its aerospace fasteners segment's results, after completion of restructuring programs now underway for which reserves were taken in fiscal 1993. A reduction from 2,700 to 1,700 of the Fairchild Aerospace Fastener Division's domestic employment is being accompanied by plant re- engineering, which is now on course. Management believes that improved results should become evident during the company's third quarter, beginning Jan. 1, 1994.
 -0- 10/7/93
 /CONTACT: Mike Alcox, 703-478-5824, or John D. Jackson, 703-478-5872, both of Fairchild/
 (FA)


CO: The Fairchild Corporation ST: Virginia IN: ARO SU:

TS-MP -- NY067 -- 9868 10/07/93 16:01 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
Words:273
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