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MINING SERVICES INTERNATIONAL ANNOUNCES THIRD QUARTER EARNINGS

 MINING SERVICES INTERNATIONAL ANNOUNCES THIRD QUARTER EARNINGS
 SALT LAKE CITY, Oct. 28 /PRNewswire/ -- Mining Services International Inc. (NASDAQ: MSIX) ("MSI") reported net income from operations for the three months ended Sept. 30, 1992, of $229,000, or $0.04 per share, compared to a loss of $146,000 or $0.03 per share for the same period in 1991. Revenues for the period were $4.5 million.
 For the nine months ended Sept. 30, 1992, the company reported net income of $3.25 million, or $0.64 per share, compared to a loss of $369,000, or $0.08 per share for the same period in 1991. $2.747 million of the net income reported, or $0.54 per share, represented an extraordinary gain from the debt restructuring in the second quarter of its 50 percent-owned joint-venture company, Cyanco.
 Dr. Lex L. Udy, president and chief executive officer of MSI, said, "We are very pleased with the turnaround we have experienced this year, especially when one realizes that operating profit for this past quarter was reduced by the shutdown of Weststar Mining Co.'s Balmer Coal Mine, one of MSI's major accounts in Canada and by an extraordinary, one-time loss of $70,000 paid in settlement of a complaint filed against MSI in Pennsylvania in April 1991."
 According to Udy, the Cyanco plant operated at a rate of about 70 percent capacity for the quarter. He said, "By January 1993, Cyanco should be producing at near 100 percent of capacity as sodium cyanide supply contracts now signed become effective and as additional volume from customers of Degussa Corp., MSI's joint venture partner, comes on line."
 MSI also reported that it had recently concluded extensions of its explosives supply agreements with both Bridger Coal Co. and Trapper Mining Inc. Bridger operates the largest coal mine in southwestern Wyoming and Trapper operates a major coal mine in Colorado. Sales to these extended operations should represent about $25 million in revenues over the four-year life of the agreements. A new explosives supply contract was also signed with Santa Fe Gold's Lone Tree mine in Nevada, with sales of about $0.5 million per year. The Westar Mining Co.'s Balmer coal mine, one of MSI's major accounts in British Columbia, Canada, which has been shut down since May 1, 1992, because of labor and financial problems, filed for bankruptcy protection in August. The trustee is attempting to secure a buyer for the mine from among several mining groups. It is anticipated by MSI that a sale will be announced this fall and that mining operations will commence during the first quarter of 1993.
 Mining Services International is a leading developer of explosives technology and a supplier of high-quality explosives to the mining industry. MSI markets its products and technology in six of the major mining countries worldwide. MSI also manufactures and sells aqueous sodium cyanide to precious metal mines in the western United States through Cyanco, its 50 percent-owned joint venture.
 -0- 10/28/92 R
 /CONTACT: Dr. Lex L. Udy, president and CEO, or Dr. John T. Day, executive VP and CFO, of Mining Services International, 801-261-5666/
 (MSIX) CO: Mining Services International; Cyanco ST: Utah IN: MNG CHM SU: ERN


BP-EH -- LA001 -- 5838 10/28/92 09:40 EST
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Date:Oct 28, 1992
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