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WACKENHUT REPORTS RISE IN REVENUES AND EARNINGS

 WACKENHUT REPORTS RISE IN REVENUES AND EARNINGS
 CORAL GABLES, Fla., Nov. 2 /PRNewswire/ -- The Wackenhut Corporation


(NYSE: WAK) announced increases in both revenues and net income for the third quarter, 1992, compared to the same period last year. Revenues for the quarter grew 10.4 percent, and net income was up 3.6 percent. Earnings per share were $.56 compared to $.54 in the third quarter of the previous year.
 Revenues for the three quarters ending Sept. 25, 1992, were almost $460 million, exceeding the prior year's figures by 7.6 percent. Earnings per share were $1.50, compared to $1.44 per share for the three quarters of the previous year, an increase of 4.3 percent over the same period of 1991.
 George R. Wackenhut, chairman of the board of directors and chief executive officer, said that the higher revenues in the quarter as well as the nine-month period resulted primarily from growth in international operations, and continued expansion in Wackenhut Corrections Corporation and Wackenhut Education Services, Inc. He also noted that the figures for the prior year included revenues from operations which have since been eliminated.
 Wackenhut said that the third quarter income increase came despite ongoing start-up costs related to a recently formed subsidiary, Wackenhut Monitoring Systems, Inc. and continued losses in Wackenhut Advanced Technologies Center, Inc.
 Recognizing the sluggish condition of the security industry, Wackenhut noted that the corporation has invested substantially in the development of diversified services aimed at future business opportunities. This diversification, as well as the steady growth of its international operations, has partially shielded the company from the fluctuations of the domestic security market.
 He also explained that changes in investment strategies related to the reinsurance subsidiary had the effect of reducing the corporation's effective tax rate. Third quarter results of the corporation's reinsurance subsidiary were less favorable than last year due to underwriting profits in the previous period as well as lower investment income brought about by declining interest rates, but these were offset by capital gains on the investment portfolio.
 THE WACKENHUT CORPORATION
 Summary of the quarter, compared to the previous year:
 Third Quarter 1992 1991 Pct. Change
 Revenues $157,598,000 $142,697,000 + 10.4
 Net Income $ 2,167,000 $ 2,091,000 + 3.6
 Earnings Per
 share $ 0.56 $ 0.54
 Year-to-date summary, compared to previous year:
 Year-To-Date 1992 1991 Pct Change
 Revenues $459,918,000 $427,432,000 + 7.6
 Net Income $ 5,783,000 $ 5,547,000 + 4.3
 Earnings Per
 share $ 1.50 $ 1.44
 The Wackenhut Corporation was founded in 1954, and is based in Coral Gables, Fla. It is one of the world's largest security and investigative organizations and has diversified its services to include management of correctional facilities, food service operations; fire services; airport crash-fire-rescue; and electronic monitoring of parolees. The corporation has offices in over 125 U.S. cities and in 44 other countries.
 -0- 11/2/92
 /CONTACT: Patrick F. Cannan of The Wackenhut Corporation, 305-666- 5656/
 (WAK) CO: The Wackenhut Corporation ST: Florida IN: SU: ERN


JJ-JB -- FL005 -- 1507 11/02/92 10:38 EST
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Date:Nov 2, 1992
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