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WATERHOUSE INVESTOR SERVICES REPORTS RESULTS

 WATERHOUSE INVESTOR SERVICES REPORTS RESULTS
 NEW YORK, March 24 /PRNewswire/ -- Waterhouse Investor Services,


Inc. (AMEX: WHO) today reported that income for the second quarter ended Feb. 29, 1992 was $3,003,200 versus $588,500 for the same period the previous year -- a 410 percent increase. Earnings per share were 62 cents in the latest quarter versus 13 cents last year -- a 377 percent increase.
 Quarter ended Feb. 1992 FY 1992 FY 1991
 Revenues 16,463,100 6,794,700
 Net income 3,003,200 588,500
 Share earnings .62 .13
 Average shares outstanding 4,839,607 4,413,204
 Six months to February FY 1992 FY 1991
 Revenues 27,544,900 12,250,300
 Net income 4,506,400 782,000
 Share earnings .94 .18
 Average shares outstanding 4,817,226 4,443,866
 All earnings per share figures have been adjusted to reflect the company's 3 for 2 stock split which was paid in the form of a 50 percent dividend on Feb. 26, 1992. The company's average shares outstanding during the latest quarter were 4,839,607 versus 4,413,204 for the same period last year. This increase reflected the exercise of outstanding underwriters warrants and employee stock options.
 For the second quarter and six month period, revenues increased 142 percent and 125 percent respectively. The sizable increase in revenues and profits for the periods was due to an expanding customer base of the company's nationwide discount broker - Waterhouse Securities, Inc. and increased market activity by that base. Revenues and earnings represent a record quarter and a record six months for the company.
 The company announced that in light of its increased business it plans to open over the next year the below listed branches bringing its nationwide network to 40 offices.
 Cherry Hill, N.J. Palm Beach, Fla.
 Garden City, N.Y. Baltimore, Md.
 Michigan Avenue, Chicago Nashville, Tenn.
 White Plains, N.Y. New Orleans, La.
 Richmond, Va. Honolulu, Hawaii
 In addition, the company is expanding and relocating offices in Kansas City, Miami, St. Louis, Boston, Atlanta, Detroit and San Francisco as well as opening two new national call service centers; one on Wall Street and one in White Plains, N.Y. These call centers will handle customer calls during the busiest times of each day and act as back up for the companies branches.
 The company has expanded its business hours in order to provide additional service to its customers. The company's extended hours service now allows all of its customers to place orders, receive quotes and do business from the hours of 5 p.m., to midnight EST, Monday through Friday.
 Further, the company stated that it was seeking to establish new services for its customers. Among the new services the company is developing are: a) its own money market mutual funds; b) banking services such as free investment checking and; c) self-service electronic trading through personal computers and the telephone.
 On Feb. 24, 1992 the company listed its stock on the American Stock Exchange.
 -0- 3/24/92 R
 /CONTACT: Lawrence M. Waterhouse, Jr., chairman of the board of Waterhouse Investor Services, Inc., 212-806-3500/
 (WHO) CO: Waterhouse Investor Services, Inc. ST: New York IN: FIN SU: ERN


GK -- NY044R -- 1186 03/24/92 15:08 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Mar 24, 1992
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