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AMERICAN BUSINESS PRODUCTS ISSUES STATEMENT ON STOCK

 ATLANTA, Aug. 18 /PRNewswire/ -- Thomas R. Carmody, president and chief executive officer of American Business Products, Inc. (NYSE: ABP), today issued the following statement in response to inquiries concerning the recent activity in the company's stock:
 "We know of no fundamental reason for the recent decline in the price of ABP shares, and at the present level of the share price, we feel that the company's stock is greatly under-valued.
 "The market has not recognized either the good performance of the company for the first half, in terms of higher operating profits, or our two planned strategic acquisitions, that when consummated will boost sales by approximately $65 million and strengthen two fast-growing, profitable specialty product lines. Nor is the fundamental strength of the company recognized in the current level of share price."
 ABP reported record second quarter sales of $115.3 million, up 2 percent, with net income of $3.6 million or $.34 per share compared with $3.4 million or $.32 per share of income from operations and before an extraordinary gain from sale of real estate for the second quarter of 1992. Sales for 1992 reached a record $463.5 million, the 54th consecutive year of sales growth. Net income before effects of changes in accounting principles increased 19 percent to $19.6 million or $1.83 per share.
 ABP's operating companies and products and services are Curtis 1000 Inc., envelopes and business forms; Vanier Business Forms & Services, business forms; BookCrafters USA, Inc., book printing and distributing; American Fiber-Velope Mfg. Co., specialty envelopes and filing systems; and Jen-Coat, Inc., specialty extrusion coating and laminating of packaging. ABP is a joint venture partner in Curtis 1000 Europe GmbH which produces and markets envelopes in Europe with facilities in Germany, England, Luxembourg, and Poland.
 -0- 8/18/93
 /CONTACT: Thomas R. Carmody of American Business Products, 404-953-8300/
 (ABP)


CO: American Business Products, Inc. ST: Georgia IN: SU:

BR-BN -- AT007 -- 3990 08/18/93 15:04 EDT
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Publication:PR Newswire
Date:Aug 18, 1993
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