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NEW EUROPEAN IT COMPANY ANNOUNCES 23 PERCENT PROFIT INCREASE

 HEMEL, Hemsted, March 17 /PRNewswire/ -- The new European Information Technology (IT) company, McDonnell Douglas Information Systems (MDIS), created as a result of its purchase from McDonnell Douglas Corp. by a prominent group of British investors led by Baring Capital Investors Ltd., has announced 1992 profits of $30.07 million, 22.8 percent ahead of 1991 ($24.49 million). The acquisition of the company, announced in early January, was completed in early March.
 The well-established existing management team retains operational control of the company. Chief Executive Jeremy J. Causley states that: "I am very proud that Europe once again has a substantial and very successful IT company of its own. MDIS has a global presence and we shall retain our worldwide rights to all software and hardware products. There will be no change to our operational structure in any of the countries in which we operate."
 Causley went on to emphasize that: "MDIS, its products and its affiliates are no longer associated in any way with McDonnell Douglas Corp."
 The company has announced a worldwide proforma operational profit for 1992 of $30.07 million ($24.49 million in 1991), on revenues of $247.54 million.
 "Despite 1992 being a very tough year for the economy in general, and IT companies in particular, we have retained market share by focusing on supplying high quality products and services to our customers," said Causley, "and by keeping a tight rein on costs we have managed a significant increase in operating profits, particularly in our overseas operations which now account for nearly 30 percent of our revenues."
 "We increased our focus on software and services in 1992 rather than on computer hardware," he continued, "and this sector now represents a healthy 58 percent of our revenues. And we expect to invest even more in 1993 than in 1992 in the development of application software.
 "1993 is not going to be easy," he added, "but provided there is no further significant downturn in world markets, our financial performance should again improve."
 1,748 people are employed worldwide by MDIS, with more than 1,300 in the United Kingdom. About 800 staff are engaged in the design and development of application software for health services, central and local government, police, libraries, international banking, manufacturing, and the payroll, personnel and pensions markets.
 MDIS provides hardware, software and support services to meet information systems requirements for customers located principally in Europe, the United States, Australasia, and the Pacific Rim. The company also provides Facilities Management, Disaster Recovery, project management and consultancy services. Other areas of activity include the development and supply of software tools.
 MDIS is now set to become one of Europe's leading Information Technology companies.
 For further information, contact:
 David Malaperiman, McDonnell Douglas Information Systems,
 Boundary Way, Hemel Hempstead, Hertfordshire, HP2 7HU.
 Telephone: 0442-274412
 Simon Palley, Baring Capital Investors,
 140 Park Lane, London, W1Y 3AA
 Telephone: 071-408-1282
 MCDONNELL DOUGLAS INFORMATION SYSTEMS ("MDIS")
 INFORMATION ON THE RESULTS AND FINANCIAL POSITION OF MDIS
 EXTRACTED FROM THE PROFORMA ACCOUNTS IS AS FOLLOWS:
 YEAR ENDED 31ST DECEMBER
 1992 1991 PERCENT
 INCREASE/
 #000 #000 (DECREASE)
 1. TURNOVER
 UNITED KINGDOM 114,444 123,515 (7.3)
 REST OF THE WORLD 45,291 51,675 (12.4)
 TOTAL MDIS 159,735 175,190 (8.8)
 2. OPERATING PROFIT
 TOTAL MDIS 19,425 15,792 23.0
 3. NET ASSETS
 AT 31ST DECEMBER 77,944 59,430 31.2
 4. RESEARCH AND DEVELOPMENT
 EXPENDITURE
 TOTAL MDIS 11,949 11,319 5.6
 5. HEADCOUNT NO. NO.
 AT 31ST DECEMBER 1,748 2,454 (28.8)
 6. OPERATING PROFIT
 PER EMPLOYEE
 TOTAL MDIS 11,113 6,435 72.7
 -0- 3/17/93
 /CONTACT: David Malaperiman of McDonnell Douglas Information Systems, 0442-274412; or Simon Palley of Baring Capital Investors, 071-408-1282/


CO: McDonnell Douglas Information Systems; McDonnell Douglas Corp. ST: IN: ARO CPR SU: ERN

EH -- LA012 -- 6957 03/17/93 10:20 EST
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Date:Mar 17, 1993
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