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QUICK & REILLY GROUP REPORTS NET INCOME UP 17 PERCENT, REVENUES CLIMB 32 PERCENT IN SECOND QUARTER

 QUICK & REILLY GROUP REPORTS NET INCOME UP 17 PERCENT,
 REVENUES CLIMB 32 PERCENT IN SECOND QUARTER
 NEW YORK, Sept. 24 /PRNewswire/ -- The Quick & Reilly Group, Inc. (NYSE: BQR) today reported its second quarter earnings. Net income rose 17 percent and revenues climbed 32 percent for the three months ended Aug. 28, as compared with the same period last year.
 Net income after taxes was $5,210,913 (or 53 cents a share) as compared with $4,471,882 (or 48 cents a share). Revenues were $42,902,645 compared with $32,397,673 in last year's second quarter. Average shares outstanding increased approximately 627,000.
 Leslie C. Quick, Jr., Chairman, said he was pleased with the results, especially in light of the slowdown the industry experienced during the quarter.
 Quick noted that the Quick & Reilly Group continued to lead the industry in profitability, with a pre-tax profit margin of 21.8 percent for the quarter.
 Market Outlook:
 Mr. Quick noted that results of the latest Quick & Reilly 500 Survey of Individual Investor Sentiment corroborated Quick & Reilly's view of the market. The survey, which was released Sept. 16, indicated that 29 percent of independent investors surveyed are bullish -- down from 41 percent in the previous quarter. The survey also indicated a preference among individual investors to hold 32 percent of their portfolios in cash and money funds.
 Highlights by Subsidiary:
 Quick & Reilly, Inc., the Group's discount brokerage unit, saw a 26 percent increase in new accounts over the same period last year. Mr. Quick added that the firm remains on its aggressive growth plan and "will expand significantly its 77-office national network by opening 24 branches over the next 18 months."
 Mr. Quick noted that the Group's U.S. Clearing Corp. subsidiary added five new correspondent firm clients in the second quarter. The introduction of new computer systems enabled U.S. Clearing to offer a number of new services including dividend reinvestment.
 Mr. Quick said the Group's NYSE specialist subsidiary, JJC Specialist Corp., also experienced a strong quarter.
 Quick & Reilly Group, Inc., is the holding company for Quick & Reilly, Inc., which in 1974 was the first New York Stock Exchange member firm to offer discounted commissions to the nation's most sophisticated individual investors. Headquartered in New York in new quarters at 26 Broadway, Quick & Reilly, Inc. services its clients through 77 offices in every major city across the nation.
 The Quick & Reilly Group, Inc., also is the holding company for U.S. Clearing Corp., which provides clearing and execution services for 157 brokerage and banking firms in addition to Quick & Reilly's offices; and JJC Specialist Corp., which makes markets in the stocks of more than 100 NYSE listed companies.
 THE QUICK & REILLY GROUP, INC.
 FINANCIAL HIGHLIGHTS
 THREE MONTHS ENDED
 (Unaudited)
 August 28, 1992 August 30, 1991
 Revenues $ 42,902,645 $ 32,397,673
 Net Income Bef. Taxes 9,379,214 7,940,292
 Net Income 5,210,913 4,471,882
 Earnings Per Share $0.53 $0.485
 Weighted Average Number
 of Shares Outstanding 9,841,011 9,214,483
 SIX MONTHS ENDED
 (Unaudited)
 August 28, 1992 August 30, 1991
 Revenues $ 89,420,612 $ 65,081,657
 Net Income Bef. Taxes 21,537,664 16,497,967
 Net Income 11,991,311 9,266,013
 Earnings Per Share $1.22 $1.01
 Weighted Average Number
 of Shares Outstanding 9,862,211 9,212,163
 -0- 9/24/92
 /CONTACT: Leslie C. Quick III, Chief Operating Officer of Quick & Reilly Group, Inc., 212-747-4844; or, Bill Reddig of Hill and Knowlton, Inc., 212-697-5600, for Quick & Reilly Group, Inc./
 (BQR) CO: Quick & Reilly Group, Inc. ST: New York IN: FIN SU: ERN


LR -- NY038 -- 3063 09/24/92 11:39 EDT
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Date:Sep 24, 1992
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