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GREENERY REHABILITATION GROUP ANNOUNCES EARNINGS FOR THE QUARTER ENDED JUNE 30, 1992

 GREENERY REHABILITATION GROUP ANNOUNCES EARNINGS
 FOR THE QUARTER ENDED JUNE 30, 1992
 NEWTON, Mass., Aug. 13 /PRNewswire/ -- Greenery Rehabilitation Group, Inc. (NYSE: GRG) today announced its earnings for the quarter and nine month periods ended June 30, 1992, as compared to the earnings for the same periods ended June 30, 1991, as follows:
 GREENERY REHABILITATION GROUP
 Financial Results
 Quarter Ended June 30
 1992 1991
 Total revenues $27,783 $27,012
 Total expenses 27,608 26,430
 Net income before
 extraordinary item 175 582
 Extraordinary item,
 net of taxes --- 516
 Net income $175 $1,098
 Shares outstanding 8,201,000 8,260,000
 Net income per share
 before extraordinary
 item 2 cents 7 cents
 Net income per share 2 cents 13 cents
 Nine Months Ended June 30
 1992 1991
 Total revenues $83,419 $79,768
 Total expenses 83,429 77,544
 Equity in loss of
 Healthcare International --- 865
 Net (loss) income before
 extraordinary item (10) 1,359
 Extraordinary item,
 net of taxes --- 974
 Net (loss) Income (10) $2,333
 Shares outstanding 8,211,000 8,369,000
 Net income per share
 before extraordinary
 item --- 16 cents
 Net income per share --- 28 cents
 Total revenues for the quarter and nine months ended June 30, 1992, included $173,000 of management fee income from the eight facilities for which Greenery assumed management responsibilities on May 12, 1992.
 The provision for income taxes included in total expenses for the quarter and nine months ended June 30, 1991, includes a reserve for state income taxes relating to an audit for prior periods. Greenery is contesting this audit, but a reserve of $305,000 was established. In the absence of this reserve, net income per share would have been increased approximately 4 cents per share both for the quarter and nine months ended June 30, 1991.
 Net income for the quarter ended June 30, 1991, included an after- tax gain of $516,000 from early retirement of debt. Net income for the nine months ended June 30, 1991, included an $865,000 write-off of GRGs equity investment in Healthcare International, Inc. (AMEX: HII), which was a pass-through of HII's loss to the extent of GRGs equity investment in that company. GRG continues to hold an $8.9 million loan receivable from HII which is being paid on a current basis.
 Commenting on this quarter's results, George Ferencik, president of GRG, issued the following statement:
 "Greenery earnings for the quarter ended June 30, 1992, continued the trend of this fiscal year, essentially break-even operations. The $173,000 net income is all related to the eight operations managed since May 12, 1992. Greenery expects to receive regulatory approvals on or about Oct. 1, 1992, for all eight of these managed operations, although such approvals are not certain. Our challenge for the coming year is a commitment to cost-effective and high-quality care for all our operations including the managed facilities with effective efforts to increase revenues by marketing our nationally known programs."
 Greenery Rehabilitation Group, Inc. is headquartered in Newton. GRG operates skilled nursing facilities which specialize in rehabilitation and sub-acute health care services.
 -0- 8/13/92
 /CONTACT: Gerard M. Martin or George M. Ferencik of the Greenery Rehabilitation Group, Inc., 617-244-4744/
 (GRG) CO: The Greenery Group ST: Massachusetts IN: HEA SU: ERN


TM -- NE012 -- 9647 08/13/92 12:45 EDT
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Date:Aug 13, 1992
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