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AMP ISSUES ESTIMATED THIRD-QUARTER RESULTS, OUTLOOK COMMENTS; BARBARA FRANKLIN, FORMER U.S. SECRETARY OF COMMERCE, ADDED TO BOARD

 Five New Vice Presidents Added; New Corporate Secretary Elected
 HARRISBURG, Pa., Sept. 20 /PRNewswire/ -- AMP Incorporated (NYSE: AMP) Chairman James E. Marley and President and CEO William J. Hudson commented on current results and outlook in a presentation at 4 p.m. today at the Merrill Lynch Connector Industry Conference in New York City.
 They indicated results are in line with analyst expectations. Third quarter sales should be about $850-860 million -- up about 1 percent from $847 million in the year earlier period -- and down seasonally from the record $882 million sales in the second quarter this year. Usually third quarter sales show a modest seasonal decline from the second quarter level. Changes in exchange rates during the third quarter last year added $30 million to sales and several cents in earnings over the second quarter. This year changes in exchange rates reduced third quarter sales about $5 million compared to the second quarter and reduced third quarter sales by $35 million compared to the year-earlier quarter. For the nine months, exchange rate changes reduced this year's sales by over $50 million.
 Third quarter earnings will probably be about 73-75 cents per share, up from 72 cents in the second quarter of this year, and similar to the 74 cents in the year-earlier quarter. Consensus estimate is 74 cents. Sales in the U.S. are estimated as up 10-12 percent for the entire year. European sales are expected to be flat this year in local currencies and down modestly in U.S. dollars. In Asia/Pacific, the company said it expects moderate sales growth in local currencies and good growth in U.S. dollars. Fourth quarter sales could set a new high, and, with this growth, earnings could continue to improve. Along with AMP executive John Gurski, Vice President-Europe, they commented that the immediate outlook is for continued modest sales growth in the U.S. and a pick up in Europe and Japan by mid-1994.
 Earlier this month the company announced the addition of Barbara Franklin to its board of directors. She served as secretary of Commerce in the Bush administration and was named as one of the top 50 corporate directors in the U.S. in 1990. Her background in international trade was cited as part of the company's growing emphasis on globalization of its worldwide activities.
 Five executives averaging 18 years with the company were appointed to newly created positions: Alan Keizer, vice president-Strategic Businesses, Europe; Howard Peiffer, vice president-Technology; Carol Ritter, vice president-Environmental Programs, General Services; Larry Walker, vice president-Taxes; and Merrill Yohe, vice president-Public Affairs. David Henschel, associate general legal counsel, was named to succeed Yohe as corporate secretary.
 AMP's networking subsidiary, ACSYS, recently announced acquisition of Businessland Japan to secure an additional marketing channel to the Japanese networking market.
 Harrisburg-based AMP Incorporated is the world's leading producer of electrical/electronic connection devices. It has 26,300 employees in 165 facilities in the U.S. and 34 other countries. AMP stock is listed on the New York, Pacific and other regional stock exchanges (Symbol -- "AMP").
 /delval/
 -0- 9/30/93
 /CONTACT: William Oakland of AMP, 717-780-6371/
 (AMP)


CO: AMP Incorporated ST: Pennsylvania IN: CPR SU: ERP PER

CC -- PH025 -- 7441 09/30/93 16:01 EDT
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Publication:PR Newswire
Date:Sep 30, 1993
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