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ARCH ANNOUNCES THIRD QUARTER RESULTS; RECORD NET GAINS AND RECORD CASH FLOW REPORTED

 ARCH ANNOUNCES THIRD QUARTER RESULTS;
 RECORD NET GAINS AND RECORD CASH FLOW REPORTED
 WESTBOROUGH, Mass., June 25 /PRNewswire/ -- Arch Communications Group, Inc. (NASDAQ: APGR) announced third quarter and nine month results for the periods ended May 31, 1992. During the third quarter, Arch added a record 9,570 net new subscriber units in service, bringing total subscriber pager units in service at May 31, 1992 to 149,202. This is a 23.5 percent increase over May 31, 1991 and represents a 27.4 percent annualized growth rate. Cash flow for the quarter was $2,428,000, also a record for the company.
 Third quarter revenues of $8,965,000 represented an increase of 18.8 percent over the same period for a year earlier. Third quarter EBITDA was $2,428,000, which was a 19.5 percent increase over the prior year. Revenues for the nine months were $25,573,000, up 16.8 percent over the first nine months of 1991. Nine month EBITDA increased 24.6 percent to $7,230,000 compared to the same period for fiscal 1991. These increases are primarily a result of the growth in the company subscriber base.
 CEO C. Edward Baker, Jr. described the results as being ahead of plans: "The record net subscriber gains of 9,570 new units were higher than our plan of 7,000 new units. This compares very favorably to the 6,453 gains for the second quarter of fiscal 1992. After the completion of the initial public offering in the second quarter, we moved quickly to increase the size of our direct sales force in our core markets and to develop additional channels of distribution. The significant overperformance of our plan indicates that our efforts are paying off more quickly than we had expected."
 Continuing, Baker explained the financial results: "Significant overperformance in net subscriber gains is often accompanied by much higher than expected sales expenses. However, our distribution channels were very efficient during the third quarter and we are pleased to report that cash flow grew to a record $2,428,000."
 Arch Communications Group, Inc. provides paging services in 13 states, serving primarily middle and small market areas with populations ranging from 250,000 to 1,000,000. The company's operations are organized into five business units operating as Page New England; Page New York; Page Michigan; Page South in North Carolina, South Carolina and Georgia; and Interlink Paging in Louisiana and Florida.
 Financial Highlights
 (In Thousands, except for Share and Per Share Data):
 Three Months Ended Nine Months Ended
 May 31 May 31
 1992 1991 1992 1991
 Revenues $8,965 $7,548 $25,573 $21,894
 Operating cash flow-(a) 2,428 2,031 7,230 5,803
 Net income (loss) (1,337) (2,884) (5,331) (8,635)
 Proforma net income (loss)
 per common share ($0.19) ($0.67) ($0.93) ($2.01)
 Proforma weighted
 average shares-(b) 7,123,284 4,315,515 5,754,670 4,294,146
 ----
 NOTE: (a) Operating cash flow is Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA").
 (b) Proforma weighted average shares reflects the effects of issuance of 2,593,250 shares in a public offering closed Jan. 27, 1992.
 -0- 6/25/92
 /CONTACT: William A. Wilson, VP/Finance and CFO of Arch Communications Group, 508-898-0962/
 (APGR) CO: Arch Communications Group, Inc. ST: Massachusetts IN: TLS SU: ERN


DD -- NE002 -- 3577 06/25/92 08:02 EDT
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Date:Jun 25, 1992
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