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/C L A R I F I C A T I O N -- SPI PHARMACEUTICALS/

 /C L A R I F I C A T I O N -- SPI PHARMACEUTICALS/
 In LA009, SPI Pharmaceuticals, moved earlier today, we are advised


by the company that the following should be inserted between the third and fourth paragraphs:
 In response to questions, SPI said that while its current and long- standing policy is and has been not to make earnings forecasts, it said it was not uncomfortable with analysts 1991 projections of $1.70 a share and generally believes and is reasonably optimistic that estimates of this type are in the ballpark.
 The following is the corrected release:
 SPI PHARMACEUTICALS EXPECTS 1991 SALES TO REACH $360 MILLION
 NEWPORT BEACH, Calif., Feb. 20 /PRNewswire/ -- Speaking to institutional investors at the annual Cruttenden & Co. Southern California Growth Stock Conference, Milan Panic, chairman and chief executive officer of SPI Pharmaceuticals Inc. (AMEX: SPI), said today that SPI sales in 1991 should reach approximately $360 million.
 Panic noted that 1991 sales include eight months of sales of the company's new Eastern European venture, ICN Galenika. He said that SPI expected to report full financial results for 1991 in mid-March.
 The SPI chairman also said that the company is now proceeding with due diligence activities for its proposed venture with Oktyabr Pharmaceutical Factories of St. Petersburg (Leningrad), one of the largest pharmaceutical companies in Russia. SPI announced in December, that it had signed a letter of intent to create a new pharmaceutical venture with Oktyabr.
 In response to questions, SPI said that while its current and long- standing policy is and has been not to make earnings forecasts, it said it was not uncomfortable with analysts 1991 projections of $1.70 a share and generally believes and is reasonably optimistic that estimates of this type are in the ballpark.
 SPI Pharmaceuticals manufactures, markets and distributes 600 prescription and nonprescription pharmaceuticals in more than 60 countries, including the United States, Western and Eastern Europe, Canada, Mexico and the Far East. It is listed on the American Stock Exchange (ticker symbol SPI).
 -0- 2/20/92
 /CONTACT: Jack Sholl of SPI Pharmaceuticals, 714-545-0100, ext. 3013/
 (SPI) CO: SPI Pharmaceuticals ST: California IN: MTC SU:


CH -- LA009X -- 1030 02/20/92 14:57 EST
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Publication:PR Newswire
Date:Feb 20, 1992
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