Societe Bic reports first half 1996 results.

CLICHY, France--(BUSINESS WIRE)--Sept. 25, 1996--Societe Bic reported net sales of FF (French Francs) 3,192 million for the six months ended June 30, 1996, an increase of 3 percent from the same period a year ago.

Net income in the latest period was FF339 million, or FF12.26 per share, an increase of 9 percent from the FF310 million, or FF11.20 per share, last year.

In units, sales of stationery products remained flat. Lighter sales showed good gains while those of shavers achieved modest growth.

Interest income reduced substantially, mainly due to lower average cash balances resulting from the acquisition of a portion of the minority shares of BIC Corp. in December 1995.

Profits in Europe declined slightly as sales gains were offset by the reduction in interest income and by an increased level of investment in marketing and advertising. BIC Corp. showed good profit growth and Brazil's results were satisfactory in light of the excess costs incurred in relocating its major manufacturing facility.

Operating losses in Guy LaRoche were similar to last year despite the 7 percent sales reduction. An agreement has recently been concluded with the employees on a restructuring plan which will involve the termination of all manufacturing operations. It is anticipated that the costs of the restructuring will be covered by existing provisions and other exceptional income. -0-

BIC GROUP WORLDWIDE
(in millions of French Francs)
                                 Six months ended
                                     June 30,            Change
                                 1996       1995        1996/1995
Net sales(1)                     3,192      3,091         +3%
Income from operations             592        580         +2%
Net interest income                 27         74        -64%
Income before income taxes         619        654         -5%
Provision for taxes                215        233         -8%
Net income after minority interest 339        310         +9%
Earnings per share:
 (in French Francs)(2)
 Net income                      12.26      11.20         +9%
Number of shares
 outstanding(2)               27,648,000  27,648,000       --

FINANCIAL DATA BY DIVISIONS
(in millions of French Francs)
                                 Six Months Ended
                                     June 30,
                             BIC                   GUY LAROCHE
                        1996    1995              1996     1995
Net sales              3,043    2,930              149      161
Income before
 income taxes            652      687              (33)     (33)
-0-
    (1) At constant exchange rates, sales of the BIC segment of the
Group for the first half would have increased by 3 percent (the
average rate of the U.S. Dollar for the first half 1996 was FF5.10 as
compared to FF5.04 in the first half 1995, a 1 percent increase).
    (2) As of September 1995, two-for-one stock split cum dividend
Jan. 1, 1995.

CONTACT: Arthur Schmidt & Associates Inc., New York

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