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CAPITAL ASSOCIATES REPORTS FISCAL 1992 YEAR END RESULTS

 CAPITAL ASSOCIATES REPORTS FISCAL 1992 YEAR END RESULTS
 LAKEWOOD, Colo., Sept. 4 /PRNewswire/ -- Capital Associates, Inc.


(NASDAQ-NMS: CAII), an asset management and financial services company, announced its fiscal 1992 year end and fourth quarter results today. The current quarter's loss is the lowest reported quarterly loss in the last nine quarters. The following table summarizes the results:
 May 31, February 29, May 31,
 1992 1992 1991
 (Current Fiscal Year) (Last Quarter) (Prior Fiscal Year)
 (Restated)(2)
 Quarter Ended:
 Revenues(1) $34,480,000 $33,761,000 $47,322,000
 Net Loss 2,058,000 2,472,000 6,539,000
 Loss Per Share: .23 .28 .75
 Fiscal Year Ended:
 Revenues(1) $154,876,000 N/A $322,946,000
 Net Loss 11,077,000 N/A 18,965,000
 Loss Per Share: 1.25 N/A 2.14
 (1) Revenues have been revised to reflect equipment sales on a
 gross basis, with no effect on net loss.
 (2) The net losses for the quarter and fiscal year ended May 31,
 1991 have been restated for a correction of an error in income
 taxes as previously reported.
 Dennis Lacey, President and Chief Executive Officer of Capital Associates, Inc., stated that: "The fiscal 1992 fourth quarter's results are encouraging in that we are performing slightly better than our business plan targets. We continue to take appropriate steps to position the Company for improved operating results. For instance, we opened two more field sales offices during the quarter, and began selling units in a new Company-sponsored public income fund, Capital Preferred Yield Fund II, L.P. The overall fiscal 1992 results reflect the additional depreciation expense the Company has been recording for deterioration in values of equipment under lease, principally computer equipment. The need for such additional depreciation substantially ceased as of the end of fiscal 1992 and that, coupled with other operational improvements, is expected to positively impact the Company's future financial performance."
 Capital Associates, Inc., is principally engaged in (1) buying, selling, leasing and remarketing new and used equipment, (2) managing equipment on and off-lease, (3) sponsoring, co-sponsoring, managing and co-managing publicly-registered income funds, and (4) arranging equipment-related financing.
 -0- 9/4/92
 /CONTACT: Corporate Communications of Capital Associates, 303-980-1000/
 (CAII) CO: Capital Associates, Inc. ST: Colorado IN: FIN SU: ERN


BB -- DV007 -- 7132 09/04/92 17:43 EDT
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Date:Sep 4, 1992
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