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SCOTT & STRINGFELLOW REPORTS RECORD ANNUAL EARNINGS

 RICHMOND, Va., Aug. 11 /PRNewswire/ -- Scott & Stringfellow Financial, Inc. (NASDAQ-NMS: SCOT), today reported that its total revenues and earnings for the year ended June 25, 1993, were the highest in its 100-year history.
 Net income for the 1993 fiscal year was $3,482,000, a 6 percent increase compared to $3,289,000 for fiscal 1992. Earnings per share, on a fully-diluted basis, were $1.97 in 1993, up 7 percent from $1.84 in the prior year. Total revenues were a record $48,145,000 in 1993, representing a 4 percent increase over the $46,240,000 reported in 1992.
 For the fourth quarter ended June 25, 1993, net income rose 27 percent to $963,000, compared to $756,000 for the same period last year. Fourth quarter 1993 fully-diluted earnings per share were 54 cents, up 26 percent from 43 cents reported in last year's fourth quarter. Total revenues increased 19 percent in the fourth quarter to $13,039,000, compared to $10,964,000 for the same period last year.
 Total stockholders' equity was $22,177,000 at June 25, 1993, representing a 12 percent increase from $19,750,000 one year ago. This record level of stockholders' equity results in book value per share of $12.50, based on 1,773,607 common shares outstanding, compared to $11.24 on the same date last year. In addition to posting an 11 percent increase in book value per share, the company paid total cash dividends of 70 cents per share for the 1993 fiscal year.
 William P. Schubmehl, president and chief executive officer, attributed the improved performance in 1993 to the continuation of generally favorable equity and bond market conditions, an increase in revenues related to both corporate and municipal underwriting activities, and an ongoing effort to control operating expenses.
 The company's primary subsidiary, Scott & Stringfellow, Inc., is a regional brokerage, financial services and investment banking firm. Scott & Stringfellow, Inc., which is celebrating its 100th anniversary in 1993, is the South's oldest continuous member of the New York Stock Exchange. It operates 26 offices across Virginia, North Carolina and West Virginia and has more than 400 employees, including 181 full-time investment brokers. The common stock of the holding company, Scott & Stringfellow Financial, Inc., has been listed on the NASDAQ National Market System under the symbol "SCOT" since an initial public offering in November 1986.
 SCOTT & STRINGFELLOW FINANCIAL, INC.
 Financial Summary
 Fiscal Year and Fourth Quarter
 Ended June 25, 1993
 (In Thousands Except Per Share Data)
 Fiscal Year Ended Fourth Quarter Ended
 June 25, June 26, June 25, June 26,
 1993 1992 1993 1992
 Total Revenues $48,145 $46,240 $13,039 $10,964
 Total Expenses 42,770 41,066 11,531 9,808
 Income Before Taxes 5,375 5,174 1,508 1,156
 Income Taxes 1,893 1,885 545 400
 Net Income 3,482 3,289 963 756
 Earnings Per Share $1.97 $1.84 $0.54 $0.43
 Dividends Per Share 0.70 0.83 0.43 0.60
 Average Shares
 Outstanding 1,764 1,792 1,770 1,762
 Return on Average
 Equity 16.5 pct. 16.7 pct. 17.5 pct. 14.9 pct.
 Total Assets $79,484 $58,975
 Total Stockholders'
 Equity 22,177 19,750
 Book Value Per Share 12.50 11.24
 Total Employees 418 390
 Investment Brokers 181 170
 Branch Offices 26 26
 -0- 8/11/93
 /CONTACT: William P. Schubmehl, president and chief executive officer, 804-780-3252, or Steven C. DeLaney, first vice president and chief financial officer, 804-782-8757, both of Scott & Stringfellow/
 (SCOT)


CO: Scott & Stringfellow Financial, Inc. ST: Virginia IN: FIN SU: ERN

DC-TW -- DC017 -- 1724 08/11/93 13:26 EDT
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Date:Aug 11, 1993
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