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UNITED CAPITAL REPORTS THIRD QUARTER RESULTS

 UNITED CAPITAL REPORTS THIRD QUARTER RESULTS
 NEW YORK, Oct. 27 /PRNewswire/ -- United Capital Corp. (AMEX: ICU)


today reported results for the third quarter of 1992. Total revenues for the quarter were $18,223,000 compared to $14,682,000 for the third quarter of 1991. Net income for the quarter was $720,000 or $.11 per share as compared to $598,000 or $.09 per share for the corresponding period in 1991. Year-to-date income was $1,976,000 or $.30 per share on $52,853,000 of revenues compared to income of $2,496,000 or $.27 per share on $47,036,000 of revenues during the comparable 1991 period.
 Revenues for the nine month period and the third quarter ended Sept. 30, 1992 were $5,817,000 and $3,541,000 higher, respectively, than such revenues in the comparable 1991 periods. In commenting on the results, A. F. Petrocelli, chairman of the board of United Capital Corp., noted that these increases are primarily the result of including the revenues of Chu Associates, Inc. and affiliated companies (now known as D&M/Chu Technology, Inc.) since April 2, 1992 when it was acquired by United Capital Corp., together with increased revenues from our real estate operations and knitted wire products business, offset by lower revenues from our existing Dorne & Margolin antenna systems business. In addition, Mr. Petrocelli also noted that income from operations increased $760,000 and $602,000, respectively, for the quarter and year- to-date periods ended Sept. 30, 1992 as compared to operating income in the same periods in 1991. This improvement is primarily the result of increases in revenues from our real estate and knitted wire operations, noted above.
 United Capital Corp. owns and manges real estate and through its subsidiary, Metex Corporation, provides engineered products to aviation, industrial and automotive markets worldwide.
 UNITED CAPITAL CORP. AND SUBSIDIARIES
 Consolidated Financial Highlights
 (Dollars in thousand except per share date - Unaudited)
 Three months Nine months
 Periods ended Sept. 30 1992(A) 1991(B) 1992(A) 1991(B)
 Revenues $18,223 $14,682 $52,853 $47,036
 Income before income taxes 1,775 1,153 4,536 4,566
 Provision for income taxes 1,055 555 2,560 2,070
 Net income 720 598 1,976 2,496
 Net income per common share $.11 $.09 $.30 $.27
 Average number of
 shares outstanding 6,566,838 6,981,441 6,619,407 9,268,258
 (A) Includes the operations of Chu Associates, Inc. and affiliated companies from April 2, 1992, the date of acquisition.
 (B) 1991 revenues have been reclassified to conform with the 1992 presentation in which gains on sales of real estate assets are included in other income.
 -0- 10/27/92
 /CONTACT: Dennis S. Rosatelli, chief financial officer of United Capital Corp., 516-466-6464/
 (ICU) CO: United Capital Corp. ST: New York IN: SU: ERN


SM-LR -- NY026 -- 5250 10/27/92 09:44 EST
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Date:Oct 27, 1992
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