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KINNARD INVESTMENTS, INC. ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS

 MINNEAPOLIS, Feb. 4 /PRNewswire/ -- Kinnard Investments, Inc. (NASDAQ-NMS: KINN), parent of John G. Kinnard & Co., of Minneapolis, and PrimeVest Financial Services, of St. Cloud, Minn., today reported the second most profitable year and quarter in the 49-year history of the company. Robert R. Martin, chairman, attributed the strong results to revenue and profit growth in the major operating segments of both John G. Kinnard & Co., and PrimeVest Financial Services.
 Revenues for 1992 were $51.9 million compared to $42.6 million in 1991, and earnings were $2.6 million, compared to $3.5 million for the same periods.
 On a per share basis, primary earnings were $.76 compared to $1.17 in 1991. Book value increased from $2.79 in 1991, to $3.59 in 1992. Martin pointed out 1991 earnings included $1.5 million of investment income, compared to only $477 thousand in 1992.
 Revenues of $15.1 million in the fourth quarter of 1992 increased 39 percent from $10.9 million in the comparable quarter of 1991, while earnings increased 55 percent from $627 thousand to $973 thousand for the same period. Primary earnings per share were $.28, compared to $.20 in the fourth quarter of 1991.
 Martin went on to say that, the large growth areas for the year were: Investment Banking, Mutual Funds, Over-The-Counter Trading, Fixed Income and Insurance. Investment Banking successfully completed nine public offerings and two private placements, and raised more than $55,000,000 in capital for these growth companies, and revenues increased 72 percent. He went on to say that the NASDAQ index continues to outperform the Dow Jones and Standard & Poors' indexes, and many industry analysts predict this trend could continue for some time. Consequently, the Over-The-Counter Trading Department continued its steady growth, and saw revenues increase another 19 percent.
 Commission income from mutual funds was up 88 percent, and insurance was up 33 percent.
 PrimeVest Financial Services' revenues increased to $12.3 million, up from $8.7 million in 1991, a 41 percent increase, and earnings increased 37 percent. Martin pointed out earnings increased each quarter and that reception to PrimeVest's services continued to be very strong.
 Kinnard Investments, Inc., successfully completed a 1.725 million common stock share offering in January. Martin pointed out that Kinnard Investments, Inc. has increased its capital to $18.0 million as of Jan. 26, from $8.0 million as of Dec. 31, 1991, primarily through income from operations and the public offering of its stock. The firm has no long-term debt.
 Martin noted that Kinnard's net return on beginning equity of 32 percent is one of the highest in the industry.
 Kinnard Investments, Inc. trades publicly on the NASDAQ National Market System under the symbol KINN. The firm is a member of the Midwest Stock Exchange.
 KINNARD INVESTMENTS, INC. & SUBSIDIARIES
 FINANCIAL HIGHLIGHTS
 (In thousands, except per share data)
 (Unaudited)
 Three Months Ended 12 Months Ended
 12/31/92 12/31/91 12/31/92 12/31/91
 Revenues $15,107 $10,904 $51,936 $42,602
 Net income $973 $627 $2,579 $3,546
 Earnings per share:
 Primary $0.28 $0.20 $0.76 $1.17
 Fully diluted $0.28 $0.20 $0.74 $1.12
 Weighted average number of
 common shares and common
 stock equivalents
 outstanding:
 Primary 3,447,600 3,093,282 3,403,153 3,019,380
 Fully diluted 3,514,342 3,189,941 3,477,720 3,162,652
 Book value per common
 shares outstanding: $3.59 $2.79 -- --
 -0- 2/4/93
 /CONTACT: Robert R. Martin, chairman of Kinnard Investments, 612-370-2882/
 (KINN)


CO: Kinnard Investments, Inc. ST: Minnesota IN: FIN SU: ERN

AL -- MN009 -- 2983 02/04/93 12:28 EST
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Date:Feb 4, 1993
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