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NEW ENGLAND ELECTRIC REPORTS FIVE MONTH EARNINGS

 NEW ENGLAND ELECTRIC REPORTS FIVE MONTH EARNINGS
 WESTBOROUGH, Mass., June 19 /PRNewswire/ -- New England Electric


(NYSE: NES) (NEES) today reported earnings for the first five months of 1992 of $1.27 per average share. This compares to $1.27 earned in the corresponding period last year.
 NEES earnings for the 12 months ended May 31, 1992 were $2.77 per average share. This compares to $4.49 per average share earned for the same period last year on fewer average shares. Last year's amount included $1.79 per share due to the reversal in the third quarter of 1990 of a portion of a 1988 write-down resulting from a rate settlement involving the Seabrook 1 nuclear unit.
 NEW ENGLAND ELECTRIC SYSTEM AND SUBSIDIARIES (CONSOLIDATED)
 Five Months Ended May 31,
 1992 1991
 Operating revenue $906,476,000 $880,374,000
 Net income $82,394,000 $82,245,000
 Average common shares 64,969,652 64,842,324
 Net income per average share $1.27 $1.27
 Twelve Months Ended May 31,
 1992 1991
 Operating revenue $2,120,479,000 $2,013,877,000
 Net income $179,960,000 $289,394,000
 Average common shares 64,969,652 64,409,139
 Net income per average share $2.77 $4.49
 -0- 6/19/92
 /CONTACT: Linwood B. Stockwell of New England Electric, 508-366-9011 (days) or 508-366-8794 (evenings)/
 (NES) CO: New England Electric Company ST: Massachusetts IN: UTI SU: ERN


DD -- NE015 -- 1958 06/19/92 13:25 EDT
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Publication:PR Newswire
Date:Jun 19, 1992
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