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IFINT S.A. ANNOUNCES FISCAL 1992 RESULTS

 NEW YORK, June 2 /PRNewswire/ -- IFINT S.A., the international investment company of the Agnelli Group, today announced that, for its fiscal year ended Dec. 31, 1992, it achieved net income after extraordinary items of $351.1 million.
 Gian Andrea Botta, newly appointed president of IFINT-USA, said: "IFINT S.A.'s results for 1992 were achieved in spite of continued softness in the United States and world economies, and were in line with the company's long-term record of strong investment performance here and abroad. Going forward, we will actively pursue new investments in the United States, which we believe offers a unique combination of long-term economic growth and stability."
 Mr. Botta, 40, whose appointment as president of IFINT-USA took effect in May, has lived in the United States for 12 years. He is a member of IFINT S.A.'s board of management chaired by Gianluigi Gabetti, the company's chief executive officer. Other members of the board are N. Peter Ruys, chief financial officer of IFINT S.A., Tiberto Brandolini, designated chief executive officer of EXOR S.A., responsible for European Affairs, and Galeazzo Scarampi, president of IFINT ASIA.
 IFINT pursues controlling interests in established, well-managed companies. In addition, from time to time IFINT engages in more opportunistic investments. For example, in March 1993, as previously reported, IFINT purchased for $300 million a portfolio of certain management buyout and special equity investments from First Chicago Corporation.
 -0- 6/2/93
 /CONTACT: Roy Winnick of Kekst and Company, 212-593-2655, for IFINT S.A./


CO: IFINT S.A. ST: New York IN: SU: ERN

LR-OS -- NY046 -- 4465 06/02/93 12:26 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
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