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BEI HOLDINGS REPORTS THIRD QUARTER OPERATING RESULTS

 ATLANTA, Oct. 29 /PRNewswire/ -- BEI Holdings, Ltd. (NASDAQ: BEIH) today reported results for the third quarter and first nine months of fiscal 1993 ended Sept. 30.
 Net income for the quarter was $667,000 ($.06 per share) compared to $1,265,000 ($.12 per share) in the third quarter of the prior year. Revenues for the period totaled $7,308,000 compared to $11,496,000 for the third quarter of 1992. This decline in revenues was due primarily to the sale of the BEI Golembe consulting division to Electronic Data Systems Corporation of Dallas for $22 million in cash, which resulted in a year-to-date after tax gain of $12,827,000.
 For the first nine months of fiscal 1993, net income was $15,346,000 ($1.37 per share) compared to $3,984,000 ($.39 per share) for the nine months of 1992. Revenues for the first nine months of 1993 were $30,746,000 compared to $34,769,000 in the prior year.
 On Sept. 24, BEI Holdings announced that it had signed a definitive agreement to merge with AMRESCO Holdings to form the largest asset management firm of its kind in the United States. Terms call for AMRESCO shareholders to receive approximately 11.1 million shares of BEI Holdings' common stock, or 50 percent of the outstanding stock in the surviving company. The merger is subject to various conditions including shareholder approvals, provisions of the Hart-Scott-Rodino Act and agreement of the RTC and FDIC. The shareholder vote is scheduled for late December 1993. The third quarter results included charges of $258,000 ($.02 per share) for expenses related to the pending merger with AMRESCO.
 BEI Holdings Ltd. is a diversified asset management and consulting firm headquartered in Atlanta.
 BEI HOLDINGS LTD. AND SUBSIDIARIES
 Consolidated Balance Sheets
 (Unaudited)
 ASSETS 9/30/93 12/31/92
 Cash and cash equivalents $23,346,618 $ 3,523,903
 Accounts receivable, net of allowance
 for losses 5,300,139 5,395,015
 Accounts receivable - unbilled 7,756,888 4,923,254
 Investments held for sale 1,640,434 1,640,434
 Prepaid expenses 558,572 537,915
 Other current assets 239,522 533,586
 Total current assets 38,842,173 16,554,107
 Mortgage loans and notes receivable 2,567,347 3,830,304
 Notes receivable from officers and
 related cash surrender values for
 company paid life insurance 3,487,947 3,104,015
 Real estate held for sale 7,076,541 7,050,787
 Property and equipment, net of
 accumulated depreciation 1,765,849 2,331,452
 Intangible assets, net of accumulated
 amortization 8,063,276 10,606,731
 Other assets 1,860,127 781,552
 Total assets $63,663,260 $44,258,948
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Liabilities
 Accounts payable and accrued exps. $ 4,471,298 $ 4,512,564
 Deferred revenue --- 454,072
 Dividends payable 556,706 ---
 Income taxes payable 2,556,528 755,633
 Current portion of long-term debt --- 40,715
 Payable to joint venture partner 3,794,053 1,738,838
 Total current liabilities 11,378,585 7,501,822
 Long-term debt 155,272 252,551
 Other liabilities --- 806,438
 Shareholders' Equity
 Common stock, par value $.05,
 authorized 15 million shares,
 issued 11,081,037 and
 10,419,787 respectively 556,252 520,989
 Additional paid-in capital 52,210,034 50,049,234
 Accumulated deficit (636,883) (14,872,086)
 Total shareholders' equity 52,129,403 35,698,137
 Total liabilities and shareholders'
 equity $63,663,260 $44,258,948
 Consolidated Statements of Operations
 (Unaudited)
 Qtrs. ended Sept. 30 1993 1992
 Consulting and management svcs. revenues $ 7,308,106 $11,495,658
 Costs and expenses
 Costs of consulting operations 5,651,738 8,931,750
 Selling, general and administrative 695,966 913,648
 Interest expense 5,400 26,392
 Other income, net (243,059) (314,932)
 Minority interest 548,545 654,345
 Total costs and expenses 6,658,590 10,211,203
 Gain on sale of assets 74,000 ---
 Income from cont. opers. bef. inc. taxes 723,516 1,284,455
 Provision for income taxes 56,499 19,000
 Net income $ 667,017 $ 1,265,455
 Net income per share $ 0.06 $ 0.12
 9 mos. ended Sept. 30 1993 1992
 Consulting and management svcs. revenues $30,746,030 $34,769,426
 Costs and expenses
 Costs of consulting operations 24,376,567 27,263,727
 Selling, general and administrative 1,682,933 2,715,674
 Interest expense 10,973 100,063
 Other income, net (550,745) (1,222,681)
 Minority interest 2,428,215 1,882,565
 Total costs and expenses 27,947,943 30,739,348
 Gain on sale of assets 14,434,466 ---
 Income from cont. opers. bef. inc. taxes 17,232,553 4,030,078
 Provision for income taxes 1,887,046 46,500
 Net income $15,345,507 $ 3,983,578
 Net income per share $ 1.37 $ 0.39
 -0- 10/29/93
 /CONTACT: Charles C. Ray, chief financial officer, BEI Holdings, 404-315-6060/
 (BEIH)


CO: BEI Holdings, Ltd. ST: Georgia IN: FIN SU: ERN

BR-BN -- AT008 -- 8498 10/29/93 12:09 EDT
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Date:Oct 29, 1993
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