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ACCOUNTING CHANGES AND ENVIRONMENTAL RESERVE TO AFFECT KERR-MCGEE'S 1992 RESULTS

 OKLAHOMA CITY, Jan. 12 /PRNewswire/ -- Kerr-McGee Corp.'s (NYSE: KMG) 1992 results will include two non-cash accounting changes mandated by the Financial Accounting Standards Board and a non-cash reserve for future environmental expenditures.
 An accounting change covering the projected cost of retiree medical and life insurance benefits will result in a non-cash, after-tax charge of approximately $66 million or $1.37 per share. The ongoing annual non-cash cost of this rule change will be about $3 million or 6 cents per share. Also, adoption of a deferred tax liability change will favorably impact 1992 results by about $1 million or 2 cents per share.
 Kerr-McGee's 1992 results, to be announced later this month, will also include a non-cash, after-tax environmental reserve of $130 million or $2.70 per share. This reserve will be used for a West Chicago, Ill., mill tailings decommissioning project and abandoned chemical and refining plant sites. Although the reserve addition will be recognized in the 1992 financial results, the cash expenditures will be incurred in future years.
 -0- 1/12/93
 /CONTACT: Dow Dozier of Kerr-McGee, 405-270-2877/
 (KMG)


CO: Kerr-McGee Corp. ST: Oklahoma IN: OIL SU:

MC -- DV010 -- 4216 01/12/93 17:17 EST
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Publication:PR Newswire
Date:Jan 12, 1993
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