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THE ALPINE GROUP REPORTS FIRST QUARTER RESULTS

 THE ALPINE GROUP REPORTS FIRST QUARTER RESULTS
 NEW YORK, Sept. 15 /PRNewswire/ -- The Alpine Group, Inc. (AMEX:AGI)


today reported financial results for the first quarter ended July 31, 1992.
 For the quarter ended July 31, 1992, the company reported a loss of $1,405,000 or $0.17 per share on sales of $8,673,000, compared with a loss of $1,590,000 or $0.23 per share ($1,168,000 or $0.17 per share after extraordinary item) on sales of $1,555,000 for the quarter ended July 31, 1991. The sales increase of $7,118,000 or 458 percent resulted primarily from the inclusion of Dataproducts New England, Inc., which was acquired in February 1992. The current quarter loss includes non- cash items of $793,000.
 Steven S. Elbaum, chairman and chief executive officer, stated that Alpine's quarterly financial results reflect increased research, development and capital investment in its Alpine PolyVision subsidiary, consistent with the transition to production start-up in 1993. The newly acquired Dataproducts New England subsidiary continued to make a strong operating contribution.
 Mr. Elbaum said, "The recently announced $5 million financing package to be provided through the Department of Economic Development of the State of Connecticut will assist Alpine in implementing its strategy of commercializing its PolyVision technology. The decision by Alpine to locate its PolyVision headquarters and manufacturing operations in Connecticut is in line with opportunities identified during its February 1992 acquisition of the Wallingford, Conn.-based Dataproducts New England, Inc. (DNE). The operations and infrastructure of DNE will complement PolyVision operations and start-up. Alpine PolyVision will transfer its pilot plant from Massy, France to Wallingford in the fall of this year. While this will defer start-up of commercial production until the first quarter of calendar 1993, it will enable Alpine PolyVision to focus its investment in one location, which will become the platform for scale-up to volume production."
 The Alpine Group, Inc. is a holding company with continuing operations in information display and defense electronics and datacommunications businesses. Through its Alpine PolyVision, Inc. subsidiary, Alpine is developing PolyVision, a proprietary flat panel display technology, for commercial applications in a wide variety of markets. A recently acquired subsidiary, Dataproducts New England, Inc., specializes in the advanced design, development and production of datacommunications, avionics, printers and other components and systems for government and commercial markets. Alpine's information display activities also include Posterloid Corporation, which manufactures and markets menuboard display systems to fast food and convenience store markets.
 THE ALPINE GROUP, INC.
 Summary Income Statement
 (Dollars in Thousands, Except Per Share)
 Periods ended
 July 31 1992 1991
 Net sales from continuing
 operations $ 8,673 $ 1,555
 (Loss) from operations (1,405) (1,590)
 Extraordinary Item:
 Net gain on extinguishment
 of debt - 422
 Net income (loss) ($ 1,405) ($ 1,168)
 Earnings (loss) per share of
 common stock:
 Continuing operations ($ 0.17) ($ 0.23)
 Gain on extinguishment
 of debt - 0.06
 Net income (loss) ($ 0.17) ($ 0.17)
 Average shares outstanding 8,400,198 6,796,525
 SUMMARY BALANCE SHEET
 July 31, April 30,
 1992 1992
 Current assets $15,239 $20,143
 Total assets $32,843 $36,707
 Current liabilities $ 8,088 $10,976
 Long-term debt,
 less current portion $19,568 $19,396
 Stockholders' equity $ 4,719 $ 5,867
 -0- 9/15/92
 /CONTACT: June Filingeri or Bernie Kilkelly of Morgen-Walke Associates, 212-986-5900, for the Alpine Group/
 (AGI) CO: The Alpine Group, Inc. ST: New York IN: CPR SU: ERN


AH -- NY001 -- 9462 09/15/92 08:49 EDT
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