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UNITED HERITAGE REPORTS FIRST QUARTER REVENUES

 UNITED HERITAGE REPORTS FIRST QUARTER REVENUES
 CLEBURNE, Texas, July 20 /PRNewswire/ -- United Heritage


Corporation, Cleburne-based holding company engaged in the production and sale of lite beef and cattle, reported increased revenues for the first quarter of its fiscal year. For the quarter ended June 30, 1992, revenues were $2,505,319, up 12 percent over that of the same quarter last year, which reported revenues of $2,239,738. According to United Heritage Chairman of the Board Walter G. Mize, the results of the company's processed beef segment were most gratifying, as this segment accounted for the revenue increase. Income from continuing operations was $132,395 for the current year quarter. Due to increased selling expenses in connection with an intensified marketing program for the company's lite beef segment, income from continuing operations was below that reported for the quarter ended June 30, 1991, of $179,408.
 "Prospects for increased sales of our product, HERITAGE LITE BEEF(R) are very promising. The recent addition of Bob Boughton as executive vice president of the company's wholly-owned subsidiary, National Heritage Sales Corporation and the finalization of an agreement with D. B. Brown, Inc., a Newark, New Jersey, meat products distributor with an annual sales volume of approximately $275 million, provides depth and strength to the marketing program for HERITAGE LITE BEEF," Mize said.
 Mize further reported that United Heritage is now free of any bank or long-term debt and is not involved in any ongoing litigation, as in prior periods. For the fiscal year ended March 31, 1992, the company reported a loss from continuing operations of $196,400, which included the effects of interest expenses of $49,510 and litigation costs of $95,900. Future operating results of the company will benefit from the elimination of interest costs and litigation.
 "I believe that United Heritage Corporation has entered a new era of expansion," Mize continued. "At June 30, 1992, the company had working capital of $1,089,753, significantly improved as compared to the working capital deficit of $524,160 reported at June 30, 1991. We now have both the financial resources and management depth to market our primary product, HERITAGE LITE BEEF more aggressively. We consider this the year of the harvest."
 -0- 7/20/92
 /CONTACT: Walter G. Mize of United Heritage, 817-641-3683/ CO: United Heritage Corporation ST: Texas IN: FOD SU: ERN


SH -- NY072 -- 0853 07/20/92 15:23 EDT
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Date:Jul 20, 1992
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