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HUNTER REPORTS YEAR END RESULTS

 HUNTER REPORTS YEAR END RESULTS
 SOUTHPORT, Conn., June 30 /PRNewswire/ -- Hunter Environmental


Services, Inc. (NASDAQ-NMS: HESI), today announced the results for the fiscal year ended March 31, 1992, for the company and its majority owned subsidiary, Hunter Industrial Facilities, Inc. (HIFI). Results of operations aggregated a net loss of $3,116,000 for 1992 versus a net loss of $4,465,000 for 1991. Components of the loss are as follows (in thousands):
 1992 1991
 Dividend income $ 709 $ 2,051
 General and administrative expenses:
 Hunter (1,773) (1,968)
 HIFI (1,257) (1,063)
 Interest expense (527) (1,027)
 Non-operating charges (268) (2,458)
 Net loss (3,116) (4,465)
 NOTES: Dividend income was derived from securities received in connection with the disposition of discontinued operations in 1990. Dividend income declined in 1992 as cash from the sale of such securities was used to fund HIFI's permit applications to utilize underground salt dome caverns for the disposal of solidified hazardous waste, the development of adjacent industrial parks and the storage of natural gas and/or petrochemical products (the Salt Dome Project).
 General and administrative expenses for Hunter declined in 1992 as a result of reduction in costs related to businesses disposed of in prior years.
 General and administrative expenses for HIFI increased as a result of accelerated activities associated with the Salt Dome Project.
 Interest expense declined due to lower borrowings by Hunter throughout the year. In fact, the notes payable balance at March 31, 1991 was $11,089,000 and is now zero.
 Non-operating expenses in fiscal 1991 resulted from the loss on redemption of investments, costs associated with conversion of debentures and the costs related to the establishment of a new working capital credit line. Most of these costs were non-recurring and, in 1992, investments redeemed were done so at more advantageous pricing.
 Results of operations for the three month period ended March 31, 1992 aggregated a net loss of $933,000 compared to a net loss of $3,456,000 for the same 1991 period.
 Salt Dome Project Permit Status
 In fiscal 1990, HESI management began divesting all of its operating businesses to concentrate its full resources to pursue permits to develop a facility to dispose of hazardous waste in a safe and environmentally sound manner. Through its majority owned subsidiary, HIFI, HESI seeks to design, construct and operate the nation's first hazardous waste facility employing solution mined caverns in salt domes deep below the earth's surface.
 Located in Liberty County, Texas, 30 miles northeast of Houston, the North Dayton Salt Dome offers ideal characteristics for the siting of a hazardous waste disposal facility:
 -- neighboring Harris County, Texas, is the nation's largest generator of hazardous waste.
 -- Texas and Harris County generators currently export a large percentage of their hazardous waste out of state for disposal.
 -- Liberty County is predominantly an agricultural area with a low-density population affording available land for the hazardous waste facility, adjacent industrial park and surrounding green belt areas, away from major population centers.
 -- Salt Domes have been employed safely for decades to store hydrocarbon products under high pressure as well as 500 million barrels of crude oil for the United States Department of Energy's Strategic Petroleum Reserve. There are currently some 1,500 salt dome caverns in operation in the United States.
 In June of 1990, HIFI received its draft hazardous waste disposal permits after detailed review by the permitting authorities. Subsequent legislation enacted in June 1991 by the State of Texas set new permit application standards. Following a lengthy delay while new rules were formulated, Texas, in May 1992, became the first state in the United States to adopt rules specifically regulating the disposal of hazardous waste in salt domes.
 HIFI has completed certain phases of the hearings process required by the Texas Water Commission (TWC) -- the state permitting authority -- and has supplemented its permit applications in accordance with the rules adopted by the state. The TWC hearing examiner began the evidentiary portion of the hearings yesterday, June 29, 1992, on a schedule aimed at a final decision on the permits by the TWC, which is expected about the end of the calendar year.
 As anticipated, during the last two weeks, opponents filed a number of motions intended to either further delay the hearing process or cause the hearing examiner to dismiss the hazardous waste disposal permit applications. Management expects the TWC hearing examiner to rule on those issues at some point during the evidentiary proceedings.
 Management believes its responses to these issues clearly demonstrate HIFI's compliance with requirements related to these issues. Management further believes the hearing examiner will rule in favor of HIFI with respect to these issues and there will be no further delay in the evidentiary portion of the hearing.
 Hunter Environmental Services, Inc., is an environmental service company devoted to developing and providing environmentally safe solutions to the fundamental problems surrounding the disposal of hazardous waste.
 HUNTER ENVIRONMENTAL SERVICES, INC.
 Summary of Financial Information for the Fourth Quarter and
 12 Months to Date of Fiscal 1992
 Periods ended 12 Months Three Months
 March 31 1992 1991 1992 1991
 Dividend income $ 709,000 $ 2,051,000 $ 93,000 $ 372,000
 General and admin.
 expenses:
 Hunter (1,773,000) (1,968,000) (574,000) (900,000)
 HIFI (1,257,000) (1,063,000) (286,000) (360,000)
 Interest expense (527,000) (1,027,000) (38,000) (110,000)
 Non-operating
 charges (A) (268,000) (2,458,000) (128,000) (2,458,000)
 (Loss) before
 income taxes (3,116,000) (4,465,000) (933,000) (3,456,000)
 (Provisions) for
 income taxes -- -- -- --
 Net (loss) (3,116,000) (4,465,000) (933,000) (3,456,000)
 Net (loss) per share $(.19) $(.33) $(.05) $(.25)
 Weighted aver. no.
 of com. and com.
 share equivalents
 outstanding 16,270,000 13,643,000 17,263,000 13,834,000
 (A) -- Non-operating charges relate principally to the loss on the sale of securities.
 -0- 6/30/92
 /CONTACT: Dennis Oistacher, 203-255-8777, or John Murphy,


713-752-1900, both for Hunter/
 (HESI) CO: Hunter Environmental Services, Inc. ST: Connecticut, Texas IN: SU: ERN


GK-OS -- NY053 -- 5204 06/30/92 13:15 EDT
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Date:Jun 30, 1992
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