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NACCO INDUSTRIES ANNOUNCES THIRD QUARTER EARNINGS

 NACCO INDUSTRIES ANNOUNCES THIRD QUARTER EARNINGS
 MAYFIELD HEIGHTS, Ohio, Oct. 23 /PRNewswire/ -- NACCO Industries,


Inc. (NYSE: NC) today announced net income for the third quarter of 1992 of $9.6 million, or $1.08 per share, compared with net income of $3.9 million, or $.44 per share, in the same period last year. Net income for the first nine months of 1992 was $12.1 million, or $1.36 per share, compared with $10.4 million, or $1.17 per share, for the first nine months of last year.
 Operating results improved in the third quarter at each of NACCO's operating subsidiaries. Hyster-Yale benefitted from higher unit volumes primarily due to a stronger North American market. The European market continues to be weak with lower volume and margins. Parts volume, however, was improved in both major markets. In addition, the company recorded significant positive currency effects in the quarter.
 Hamilton Beach/Proctor-Silex reported improved operating results during its seasonal high sales quarter, and benefitted from reduced interest rates on outstanding borrowings. North American Coal continued its steady results on increased tonnage shipped. The Kitchen Collection realized sharply improved earnings from continued strong performance of new and existing stores.
 In a discouraging development, Congress passed the so-called Rockefeller Amendment to the National Energy Strategy Bill, which is awaiting the signature of the President. Certain provisions of the legislation will require Bellaire Corporation (a wholly owned subsidiary of NACCO Industries) to incur substantial additional costs for medical expenses of United Mine Worker retirees. The legislation reaches back to Bellaire by abrogating existing BCOA/UMWA agreements, which do not impose these costs on Bellaire. Although there have been various estimates in media reports of the legislation's effect on financial results, given limited available information, management cannot accurately estimate at this time the impact of the legislation on NACCO. The company hopes that Congress will reconsider this legislation and believes that the legislation as it stands may be challenged in the courts.
 NACCO Industries is a holding company with four operating subsidiaries. Hyster-Yale Materials Handling, Inc. is a world leader in the design and manufacture of forklift trucks, marketed under the Hyster and Yale brand names. The North American Coal Corporation mines and markets lignite coal primarily as fuel for power generation by electric utilities. Hamilton Beach/Proctor-Silex, Inc. is a leading manufacturer of small electric appliances. The Kitchen Collection, Inc. is a national specialty retailer of kitchenware and small electric appliances.
 NACCO INDUSTRIES, INC. AND SUBSIDIARIES
 CONSOLIDATED FINANCIAL AND OPERATING HIGHLIGHTS
 (In thousands, except per share data)
 Three Months Ended Nine Months Ended
 September 30 September 30
 1992 1991 1992 1991
 Total revenues $388,492 $350,953 $1,050,910 $979,539
 Net income $ 9,610 $ 3,949 $ 12,093 $ 10,360
 Net income per share $ 1.08 $ .44 $ 1.36 $ 1.17
 Cash dividends per share $ .160 $ .155 $ .475 $ 460
 Average shares outstanding 8,889 8,878 8,885 8,878
 (All amounts are subject to annual audit by independent public accountants.)
 -0- 10/23/92
 /CONTACT: Charles A. Bittenbender, vice president, general counsel and secretary of NACCO Industries, Inc., 216-449-9600/
 (NC) CO: NACCO Industries, Inc. ST: Ohio IN: MNG HOU SU: ERN


KK -- CL008 -- 4062 10/23/92 10:29 EDT
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Date:Oct 23, 1992
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