Gargiulo Group Initiates Coverage on Perkin-Elmer with BUY Opinion.

NEW YORK--(BUSINESS WIRE)--Aug. 26, 1997--The Gargiulo Group, a division of Oscar Gruss & Son Inc., has initiated coverage on Perkin-Elmer Corp. of Norwalk, Conn., with a BUY opinion. NYSE: (PKN).

Perkin-Elmer is the worldwide leader in DNA sequencing and analysis with control of over 80% of sales in this market through its Applied Biosystems Division based in Foster City, Calif. The division accounts for slightly more than half of total revenues. Perkin-Elmer derives the remainder of its revenues from its Analytical Instruments Division.

Kevin I. Berg, JD, and Paul Jaber, Jr. are the equity analysts who follow the stock at the Gargiulo Group. Jaber believes yesterday's acquisition of PerSeptive Biosystems Inc. (PBIO) will substantially strengthen Perkin-Elmer in the molecular medicine market, and Berg added, that the acquisition positions Perkin-Elmer as the clear leader in the Life Sciences Industry, affording its stock a higher than average P/E multiple.

Berg and Jaber describe the potential for appreciation in the stock in a research report available from the Gargiulo Group at [phone].

Investment Ratings: STRONG BUY: expected total annual return of greater than 25% over the next 12-18 months; BUY: expected total annual return in the range of 15-25% over the next 12-18 months; HOLD: stock is fairly valued and should provide returns which approximate returns expected from the broad market over the next 12-18 months; UNATTRACIVE: stock is overvalued based on current and projected E.P.S., cash flow and dividend rate, and should underperform the broad market and the company's peer group over the next 12-18 months; SELL: stock is significantly overvalued based on current and projected E.P.S., cash flow and dividend rate, and should materially underperform the broad market and the company's peer group over the next 12-18 months. Other factors considered in the Investment Rating include the company's risk profile, including earnings, predictably, financial position, industry position, technology risk, product risk, and other factors. The required annual return for a specific investment rating will be increased for stocks with greater financial, business, and/or earnings risk.

This report is based upon information which The Gargiulo Group, a division of Oscar Gruss & Son Inc., believes to be reliable. However, neither we nor any individual acting on our behalf can guarantee the accuracy or completeness of its contents. It does not purport to contain a complete analysis of every material fact concerning any company, industry or security. We assume that it will be read in conjunction with other available reports and data. Opinions expressed herein are subject to change without notice. No investor can assume that reliance on the views, opinions or recommendations contained herein will produce profitable results. We and/or our employees and affiliates may have positions in securities which are referred to herein and may make purchases or sales thereof while this report is in circulation. Further information is available upon request. Foreign-currency-denominated securities are subject to fluctuations in curency exchange rates that could have a positive or adverse effect on an investor's return upon the conversion into local currency of dividends or interest received, or proceeds from the sale of such securities. In addition, the value of U.S. dollar-denominated ADRs and the value of U.S. dollar-denominated ordinary shares, or common shares, of foreign issuers can be influenced by fluctuations in currency exchange rates.

CONTACT: Kevin I. Berg, JD

Paul Jaber, Jr.

212/952-1220