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MARGO NURSERY FARMS ANNOUNCES 1990 YEAR END RESULTS

 MARGO NURSERY FARMS ANNOUNCES 1990 YEAR END RESULTS
 MIAMI, March 3 /PRNewswire/ -- Margo Nursery Farms, Inc. (OTC) and


its subsidiaries ("the company") today announced the consolidated financial results as of Dec. 31, 1990 and the fiscal year then ended.
 The company's consolidated net sales for the 1990 fiscal year increased 20 percent to $7,751,000 from $6,463,000 for 1989. Consolidated net losses for the year ending Dec. 31, 1990 were $5,268,000 or $3.13 net loss per common share compared to a profit of $214,000 or $0.13 income per common share in the prior year.
 The company believes its 1990 consolidated net losses were due to damages resulting from the use of Benlate 50 DF ("Benlate"), a defective fungicide manufactured by E.I. DuPont De Nemours & Company ("DuPont"). This fungicide was applied to the company's plant inventory and stock plants at its nursery facilities in Miami, Puerto Rico and the Dominican Republic. In addition to its other losses, the company recognized an extraordinary loss in 1990 amounting to $4,845,000 from the write-down of substantially all of its plant inventory and stock plants.
 The company has filed claims against DuPont through DuPont's agent and claims adjuster, Crawford and Company. Crawford & Company is currently evaluating the company's claims and expects to begin settlement discussions within the next 30 days.
 DuPont has advanced monies to the company, in the form of assistance payments pending final settlement. These assistance payments have been used by the company to meet current working capital requirements and reduce certain past due accounts payable. However, these assistance payments have not been sufficient to allow the company to resume full production.
 The company's financial position has continued to deteriorate since Dec. 31, 1990. The company expects to announce its consolidated financial results for the year ending Dec. 31, 1991 by April 15, 1992.
 MARGO NURSERY FARMS, INC. AND SUBSIDIARIES
 SUMMARY OF CONSOLIDATED FINANCIAL RESULTS
 as of and for the year ended Dec. 31,
 1990 1989
 Net sales $7,751,000 $6,463,000
 Income from operations 216,000 345,000
 Income (loss) before income
 taxes and extraordinary loss (464,000) 89,000
 Extraordinary loss (4,845,000) --
 Net income (loss) (5,268,000) 214,000
 Net income (loss) per
 common share before
 extraordinary loss (.25) .13
 Extraordinary loss per
 common share (2.88) --
 Net income (loss) per
 common share (3.13) .13
 Weighted average number of
 common shares outstanding 1,685,200 1,685,200
 Margo Nursery Farms, Inc., a publicly held company since Feb. 9, 1987, is engaged in the business of growing and distributing a wide range of both indoor and outdoor tropical foliage and flowering plants.
 In addition to products grown by the company at its nurseries in Miami and Dorado, Puerto Rico, the company also distributes plants grown by other nurseries in Florida, Puerto Rico and the Dominican Republic.
 -0- 3/3/92
 /CONTACT: Michael J. Spector or James F. Brenner of Margo Nursery Farms Inc., 305-255-0550/ CO: Margo Nursery Farms Inc. ST: Florida IN: SU: ERN


JJ-SS -- FL004 -- 4398 03/03/92 10:19 EST
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Date:Mar 3, 1992
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