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ALLEN GROUP CHARACTERIZES FIRST QUARTER EARNINGS AND ANNOUNCES COMMON STOCK DIVIDEND AND ANNUAL MEETING RESULTS

 BEACHWOOD, Ohio, April 22 /PRNewswire/ -- At its annual meeting today, The Allen Group Inc. (NYSE: ALN) characterized its primary earnings per common share from continuing operations for the quarter ended March 31, 1993 as being at least 45 percent better than the earnings per common share for the same period last year. This increase in earnings is before the adoption of the new accounting standard relating to income taxes (Statement of Financial Accounting Standard No. 109) which will add a one-time increase to earnings of approximately $.20 per common share representing the cumulative effect of the new standard as of January 1, 1993.
 Commenting on the expected results for the first quarter, Robert G. Paul, President and Chief Executive Officer stated: "This significant increase in earnings was due to improved profits in our Mobile Communications business, which benefited from both year-to-year growth and the inclusion of Alliance Telecommunications which was acquired July 30, 1992, improvement in our truck products segment and some improvement in our GO/DAN joint venture. Our only business that did not perform betterthan last year's first quarter was our Allen Testproducts Division. If we receive government approval to complete the sale of Allen Testproducts before we release first quarter earnings, earnings from continuing operations will increase considerably more than 45 percent compared to 1992."
 The Allen Group Inc. also announced that its Board of Directors declared a quarterly dividend of $.06 per share on the Company's common stock, payable July 1, 1993 to common stockholders of record on June 1, 1993.
 The Allen Group Inc. also announced that at the annual meeting held on April 22, 1993, stockholders re-elected the eleven incumbent Directors to the Board. They are:
 Wade W. Allen President, WB Associates
 Financial and General
 Management Consulting
 Stamford, Connecticut
 George A. Chandler Business Consultant
 Princeton, New Jersey
 Philip Wm. Colburn Chairman of the Board
 The Allen Group Inc.
 Dr. Jill K. Conway Visiting Scholar, Program in
 Science, Technology and Society
 Massachusetts Institute of Technology
 Cambridge, Massachusetts
 Albert H. Gordon Honorary Chairman
 Kidder, Peabody Group, Inc.
 Investment Bankers
 New York, New York
 William O. Hunt Chairman of the Board & President
 Intellicall Inc.
 Telephone Systems
 Carrollton, Texas
 J. Chisholm Lyons Partner, Smith, Lyons, Torrance,
 Stevenson & Mayer
 Barristers and Solicitors
 Toronto, Ontario, Canada
 Vice Chairman of the Board
 The Allen Group Inc.
 Robert G. Paul President & Chief Executive Officer
 The Allen Group Inc.
 Charles W. Robinson Chairman, Energy Transition Corp.
 Energy Consultants
 Santa Fe, New Mexico
 Richard S. Vokey Vice Chairman and Director
 Boston Private Bank & Trust Co.
 Boston, Massachusetts
 William M. Weaver, Jr. Limited Partner Emeritus
 Alex. Brown & Sons Incorporated
 Investment Bankers
 New York, New York
 At the annual meeting, stockholders also approved the amendment of the Restated Certificate of Incorporation of the Company to increase the number of authorized shares of common stock, par value $1.00 per share, of the Company from 20 million to 50 million shares, and also ratified the appointment of Coopers & Lybrand as independent auditors for 1993.
 The Allen Group Inc. manufactures and markets electronic and other products, principally for the telecommunications and automotive industries, including mobile communications equipment, automotive test equipment and truck components and operates centralized automotive emissions inspection programs.
 -0- 4/22/93
 /CONTACT: Robert A. Youdelman of The Allen Group, 216-765-5820/
 (ALN)


CO: The Allen Group ST: Ohio IN: AUT TLS SU: ERP DIV

BM -- CL006 -- 9422 04/22/93 12:03 EDT
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Date:Apr 22, 1993
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