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AMERICAN BUSINESS PRODUCTS REPORTS RECORD SALES FOR 2ND QUARTER, 1ST HALF

 ATLANTA, July 21 /PRNewswire/ -- American Business Products, Inc. (ABP) (NYSE: ABP) today reported record sales for both the second quarter and first half.
 Earnings for both periods were up excluding non-recurring gains for the second quarter last year.
 Sales for the three months ended June 30 reached a record $115,338,000, up 2 percent over $113,228,000 for second quarter 1992. Net income was $3,638,000, or $.34 per share, compared with $3,443,000, or $.32 per share for the quarter last year before inclusion of $2,900,000, or $.27 per share, of extraordinary income from the sale of real estate owned by the company. Including the non-recurring items, net income for the period last year was $6,377,000, or $.60 per share.
 For the first half, sales increased to $233,086,000 compared with $232,000,000 for the first half of 1992. Net income was $8,308,000, or $.78 per share, compared with $7,733,000, or $.72 per share, excluding the non-recurring gain, for the first half last year. Including the gain, net income for the period last year was $10,667,000, or $1.00 per share. Effects of the accounting changes implemented in 1992 resulted in a loss of $1,782,000 or $.17 per share for the first half last year.
 "Although sales increased to a record for the second quarter and first half, several factors, particularly the very slow economy, adversely affected our company's performance," said Thomas R. Carmody, president and chief executive officer of ABP. "These factors included the move into a new facility by one of our operating companies; the continuing sluggish economic activity on the West Coast affecting a major subsidiary; continuing competitive pricing for other operating companies; and the effects of the economic slowdown in Europe on our European joint venture.
 "We have not seen the economy rebound as anticipated to this point, and we cannot assume any major improvement near-term, which will make our third quarter comparisons difficult this year. We are continuing to work aggressively to reach our growth targets both internally and externally."
 ABP announced on June 23 it had signed a letter of intent to acquire all the stock of privately held Home Safety Equipment Co., Inc., doing business as Conway Enterprises or Discount Labels of New Albany, Ind., subject to a definitive agreement. Discount Labels, a specialty label producer, had sales of $22.1 million for the year ended Dec. 31, 1992.
 American Business Products, Inc., which achieved its 54th consecutive year of record sales ($463.5 million) in 1992, is a leading supplier of business supplies including forms for computers and other electronic equipment; envelopes and specialty mailers; book printing, binding and distribution; specialty extrusion coating and laminating; and other business supplies, with 40 production facilities in the continental United States and Hawaii. Operating companies are: Curtis 1000 Inc., Vanier Business Forms & Services, BookCrafters USA, Inc., American Fiber-Velope Mfg. Co., and Jen-Coat, Inc. ABP also has a joint venture, Curtis 1000 Europe GmbH in Neuwied, Germany.
 AMERICAN BUSINESS PRODUCTS, INC.
 (Unaudited)
 3 mos. ended June 30 1993 1992
 Net sales $115,338,000 $113,228,000
 Operating income 5,629,000 5,451,000
 Sale of land --- 4,585,000
 Income before income taxes and
 cumulative effect of changes in
 accounting principles 5,629,000 10,036,000
 Provision for income taxes 1,991,000 3,659,000
 Net income 3,638,000 6,377,000
 Earnings per common share .34 .60
 Avg. number of common shares outst. 10,682,969 10,698,849
 6 mos. ended June 30 1993 1992
 Net sales $233,087,000 $232,000,000
 Operating income 12,734,000 12,342,000
 Sale of land --- 4,585,000
 Income before income taxes and
 cumulative effect of changes in
 accounting principles 12,734,000 16,927,000
 Provision for income taxes 4,426,000 6,260,000
 Income before cumulative effect of
 changes in accounting principles 8,308,000 10,667,000
 Cumulative effect of changes in
 accounting principles --- (12,449,000)
 Net income (loss) 8,308,000 (1,782,000)
 Avg. number of common shares outst. 10,684,514 10,692,494
 Per common share:
 Income before cumulative effect of
 changes in accounting principles .78 1.00
 Net income (loss) .78 (.17)
 -0- 7/21/93
 /CONTACT: T.R. Carmody of American Business Products, 404-953-8300/
 (ABP)


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

RA-BN -- AT010 -- 3944 07/21/93 12:34 EDT
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Date:Jul 21, 1993
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