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RUBBERMAID REPORTS RECORD 1ST QUARTER

 WOOSTER, Ohio, April 13 /PRNewswire/ -- Rubbermaid Incorporated (NYSE: RBD) today announced record sales and earnings for the quarter ended March 31, 1993. Earnings for the period were $49.6 million, or $.31 per share. This is an increase of 13 percent over first quarter 1992 earnings of $43.9 million, or $.27 per share (before retroactive adoption of FAS 106, the accounting change for postretirement benefits other than pensions). After restatement for FAS 106, first quarter 1992 net earnings were $23.8 million, or $.14 a share.
 Sales for 1993's first quarter were $484 million, up 8 percent from the $448 million of last year's first quarter. Sales growth was driven primarily by volume gains with some contribution from positive price realization.
 Wolfgang R. Schmitt, Rubbermaid chief executive officer and co- chairman of the board, said, "We are pleased to report record earnings and sales for the quarter. Earnings benefited from continued focus on new product introduction and cost control, and sales increased even though severe weather conditions, especially in early March, dampened demand at the retail level and temporarily closed several of our facilities.
 "Rubbermaid introduced a record number of new products during 1992 to continue reinforcing its strong brand equity with both retailers and users," Schmitt added. "Plans for 1993 call for another record year of product innovation.
 "Our expectations for 1993 continue to be optimistic, although they are tempered with a concern about the strength of the economic recovery. The business climate remains challenging for all Rubbermaid operations, particularly the institutional divisions. Our strategies emphasize continued cost controls, new product introductions, aggressive use of technology, and strengthened partnerships with our customers. We are committed to delivering another record performance this year," Schmitt concluded.
 During 1992, the company adopted FAS 109 "Accounting for Income Taxes," modified inventory accounting practices, and established a reserve to realign and integrate operations. In the first quarter of 1992, the company also adopted FAS 106 and retroactively recognized its accumulated benefit obligation not recorded in prior years as a charge against first quarter 1992 earnings.
 Rubbermaid Incorporated and subsidiaries report for the periods ended March 31:
 Three Months Ended
 March 31, 1993 March 31, 1992
 NET EARNINGS PER
 COMMON SHARE (A)(B) $ .31 $ .14
 STATEMENTS OF EARNINGS
 Net sales $483,677,000 $448,443,000
 Cost of sales 325,795,000 297,813,000
 Selling, general and
 administrative expenses 79,597,000 81,187,000
 Realignment costs --- 27,500,000
 Other charges (credits), net (1,214,000) (677,000)
 Earnings before income taxes
 and cumulative effect of
 changes in accounting
 principles 79,499,000 42,620,000
 Income taxes 29,883,000 16,032,000
 Earnings before cumulative
 effect of changes in
 accounting principles 49,616,000 26,588,000
 Cumulative effect of changes
 in accounting principles:
 Postretirement benefits --- (20,112,000)
 Other --- 17,281,000
 Net earnings $49,616,000 $23,757,000
 DIVIDENDS
 Cash dividends paid $15,634,000 $13,620,000
 Cash dividends paid
 per common share $ .0975 $ .085
 at March 31
 BALANCE SHEET 1993 1992
 Current assets:
 Cash and cash equivalents $ 95,084,000 $ 41,323,000
 Receivable, net 387,234,000 370,558,000
 Inventories 264,227,000 258,151,000
 Prepaid expenses 10,977,000 11,383,000
 Total current assets 757,522,000 681,415,000
 Property, plant and
 equipment, net 514,172,000 470,615,000
 Intangible and other
 assets, net 115,591,000 123,351,000
 Total assets $1,387,285,000 $1,275,381,000
 Current liabilities $ 246,252,000 $ 257,026,000
 Deferred items 99,193,000 99,594,000
 Long-term debt, non-current 19,422,000 23,896,000
 Shareholders' equity 1,022,418,000 894,865,000
 Total liabilities and
 equity $1,387,285,000 $1,275,381,000
 (A) Based on average shares outstanding of 160,281,347 and 160,193,802 for the respective 1993 and 1992 three-month periods.
 (B) Net earnings for the 1992 period were $43,869,000 ($.27 per share) before a $20,112,000 charge ($.13 per share) representing the cumulative effect of changing the method of accounting for postretirement benefits other than pensions.
 -0- 4/13/93
 /CONTACT: Richard D. Gates, senior vice president, business development and investor relations, Rubbermaid Incorporated, 216-264-6464, ext. 2477/
 (RBD)


CO: Rubbermaid Incorporated ST: Ohio IN: HOU SU: ERN

BM -- CL005 -- 5102 04/13/93 09:38 EDT
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Date:Apr 13, 1993
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