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ALL AMERICAN ANNOUNCES RECORD REVENUES

 ALL AMERICAN ANNOUNCES RECORD REVENUES
 SANTA MONICA, Calif., April 3 /PRNewswire/ -- All American


Communications Inc. (NASDAQ: AACID) today announced record revenues of $35.2 million for the year ended Dec. 31, 1991, compared to $6.7 million for the prior 10-month fiscal period ended Dec. 31, 1990. Total revenues increased by $14.6 million or 68 percent over the prior period on a pro forma basis giving retroactive effect to the merger of All American Television Inc. and Scotti Brothers Entertainment Industries Inc. which occurred on Feb. 25, 1991. Television and film revenues increased to $27.5 million in fiscal 1991 compared to $3.0 million in the prior period (representing an increase of $10.5 million, or 59 percent, on a pro forma basis) and recording revenues increased to $7.8 million compared to $3.7 million in the prior period (an increase of $4.1 million, or 109 percent, on a pro forma basis).
 The net loss for the 1991 year was $1.9 million, as compared to a net loss of $0.4 million for the 10 months ended Dec. 31, 1990. The net loss in 1991 reflects a one-time non-operating charge of $1.1 million on shares of LIVE Entertainment Inc. owned by the company, a substantial portion of which were received by the company under a domestic video distribution agreement which terminated in 1991. Net loss applicable to common shareholders (after preferred stock dividends of $0.6 million and accretion on redeemable stock of $1.4 million) was $3.9 million, or $.80 per share, as compared to a net loss of $0.4 million, or $.11 per share ($2.5 million, or $.47 per share on a pro forma basis) in the 1990 fiscal period. All per share amounts give effect to a one-for-four reverse stock split effected on March 20, 1992.
 Anthony J. Scotti, chief executive officer stated: "The 1991 results reflect the first full year of combined operations of All American Television and Scotti Brothers Entertainment. Revenues increased significantly due to the success of our new syndicated series, 'Baywatch,' and an increase in record releases under our new distribution agreement with BMG which became effective in August 1990. We have assembled a top management team to position the company to launch additional programming and records in the future."
 All American Communications Inc. is a diversified entertainment company with operations primarily in television production and distribution, recorded music production and distribution and motion picture production. All American produces and distributes various television programming, including the series "Baywatch." Recently, the company entered into an Asset Purchase Agreement with LBS Communications Inc. which is subject to bankruptcy court approval, for the acquisition by All American of substantially all of the programming, advertiser and television commitments of LBS.
 ALL AMERICAN COMMUNICATIONS INC.
 Consolidated Statement of Operations
 (Audited)
 Year ended 10 months ended
 Dec. 31, 1991 Dec. 31, 1990
 Revenues $35,225,212 $6,683,461
 Income (loss) before income taxes ($1,743,907) ($339,291)
 Net income (loss) ($1,883,662) ($399,343)
 Income (loss) applicable
 to common shareholders ($3,981,551) ($399,343)
 Net income (loss) per share ($0.80) ($0.11)
 Weighted average number of
 common shares outstanding 4,960,467 3,544,415
 Pro Forma (a)
 10 months ended Year ended
 Dec. 31, 1991 Dec. 31, 1990
 Revenues:
 Television $26,094 $16,568
 Feature films 2,303 1,293
 Total 28,397 17,861
 Recording 7,758 3,720
 Total $36,155 $21,581
 (a) The pro forma results give effect to the merger of Scotti Brothers Entertainment Industries Inc. and All American Television Inc. on Feb. 25, 1991, as if it had occurred at the beginning of the period.
 -0- 4/3/92
 /CONTACT: Thomas Bradshaw, CFO of All American Communications, 310-450-3193, or Arthur E. Rockwell, CFA of Rockwell Communications, 818-559-1496, for All American Communications/
 (AACID) CO: All American Communications Inc. ST: California IN: ENT SU: ERN


AL-CH -- LA031 -- 5053 04/03/92 17:35 EST
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Date:Apr 3, 1992
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