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WESTERN ENERGY MANAGEMENT REPORTS RESULTS OF OPERATIONS FOR THREE MONTHS AND SIX MONTHS ENDED DEC. 31, 1991

 WESTERN ENERGY MANAGEMENT REPORTS RESULTS OF OPERATIONS FOR
 THREE MONTHS AND SIX MONTHS ENDED DEC. 31, 1991
 SACRAMENTO, Calif., Feb. 3 /PRNewswire/ -- Western Energy Management, Inc. (AMEX: WEM) reported today results of operations for the three months and six months ended Dec. 31, 1991.
 WESTERN ENERGY MANAGEMENT, INC.
 Results of Operations
 Three Months & Six Months ended Dec. 31, 1991
 (000's omitted)
 Three Months Six Months
 1991 1990 1991 1990
 Sales $1,624 $1,066 $3,571 $1,662
 New income (loss) (1,013) 133 (1,300) 197
 Earnings (loss)
 per common share (0.17) 0.04 (0.22) 0.06
 The company's loss for the quarter was largely attributable to the following items:
 1) The company has made adjustments in the approximate amount of $700,000 attributable to revenues recorded on projects which will now not be realized and/or revisions in estimated costs to complete certain projects. These adjustments resulted from a comprehensive analysis of all projects in progress and substantially complete projects.
 2) The company has increased its reserve for bad debts in this quarter by approximately $110,000.
 The company announced today that it intends to find a buyer for its subsidiary, Clarke and Rush Mechanical, Inc. The company has committed all of its efforts to energy conservation engineering and project management. As a result, and with the transfer of Clarke and Rush's energy management activities into Western, the remaining residential HVAC business no longer fits into Western's business plan. The company does not expect that the divestiture of its subsidiary will have a significant adverse effect on the company's earnings. The company's anticipated performance for the third and fourth quarters is not expected to result in an overall profit for the fiscal year ending June 20, 1992.
 The company intends to increase its access to working capital through an increase in its capital base and is exploring ways of doing so without shareholder dilution. In this respect, the board of directors has authorized management to enter into negotiations with Jack Wright, founder of the company, for a significant financial transaction. The nature of the transaction contemplates using a portion of Wright's share holdings as collateral for a capital financing. When available, this capital will accommodate the company's growing backlog of new business. When the negotiations are complete, details of the financing will be announced.
 Western Energy Management, Inc., is an energy management and conservation firm offering engineering, construction, and technical, monitoring and maintenance services through fully financed turn key projects to a wide range of public and private entities.
 -0- 2/3/92
 /CONTACT: David R. Lovejoy, chairman & chief executive officer of Western Energy Management, 916-331-2882, or Herb Lanzet, 212-230-2520, for Western Energy Management/
 (WEM) CO: Western Energy Management, Inc. ST: California IN: OIL SU: ERN


JT-TM -- NY054 -- 6187 02/03/92 12:19 EST
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Publication:PR Newswire
Date:Feb 3, 1992
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