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FORTIS WELL ON COURSE IN FIRST QUARTER

 FORTIS WELL ON COURSE IN FIRST QUARTER
 UTRECHT, The Netherlands, June 11 /PRNewswire/ -- Fortis' profit


showed a clear improvement for the first three months of 1992, rising 17.8 percent to ECU 73.3 million (US$91.2 million) (see note below) as compared to ECU 62.2 million ($77.4 million) in the first quarter of 1991.
 Operating result was 10.6 percent higher, to ECU 72.0 million ($89.6 million) versus ECU 65.1 million ($81.0 million) for the same period in 1991.
 Fortis' total revenues recorded significant growth, increasing 22.9 percent to ECU 2.3 billion ($2.9 billion) in the first quarter of 1992, as compared to ECU 1.9 billion ($2.4 billion) in 1991.
 Fortis' net equity increased by ECU 132 million, to ECU 3.4 billion ($4.2 billion) as compared to ECU 3.2 billion ($4.0 billion) as of March 31, 1991.
 Fortis stands by the projection for 1992, given at the time of publication of its 1991 figures, of a further rise in operating result. Barring unforeseen developments and abrupt major exchange rate movements, Fortis' profit in 1992 is expected to turn out slightly above the 1991 figure.
 NOTE: All figures have been translated into U.S. dollars using the following exchange rate: US$1 equals ECU .804 equals NLG 1.85.
 -0- 6/11/92
 /CONTACT: Meril Joseph of Fortis, Inc., 212-323-9806; or Matthew J. Harrington of Edelman Worldwide, 212-704-8103, for Fortis/ CO: Fortis ST: IN: SU: ERN


GK-OS -- NY023 -- 9126 06/11/92 09:43 EDT
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Publication:PR Newswire
Date:Jun 11, 1992
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