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CELEX GROUP REPORTS RESULTS

 CELEX GROUP REPORTS RESULTS
 LOMBARD, Ill., March 17 /PRNewswire/ -- Celex Group, Inc. (OTC)


today announced its operating results for the quarter and three quarters ended Jan. 31, 1992.
 Celex Group previously was known as Primus Development Group II, Ltd.
 For the first nine months of fiscal 1992 ended Jan. 31, 1992, the company reported total revenue of $4,175,000 and net income of $166,000 or $.09 per share. Included is an extraordinary credit of $50,000 or $.02 per share resulting from the utilization of a net operating loss carryforward.
 For the third quarter ended Jan. 31, 1992, the company reported total revenue of $1,780,000 and net income of $73,000 or $.04 per share. Included is an extraordinary credit of $23,000 or $.01 per share.
 Mac Anderson, chairman and CEO of Celex, stated that "The franchise program for the Successories retail/showroom operations was initiated. We have registered offering circulars and other required documents in the appropriate states and expect these registrations to be effective soon. Although the third quarter showed a slight improvement in operating results, the difficult economic climate adversely affected our sales and margins compared to our expectations. I continue to be optimistic about the future and our dedication to our strategic marketing plans."
 CELEX GROUP, INC.
 (FORMERLY PRIMUS DEVELOPMENT GROUP II, LTD.)
 UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF INCOME
 Third Quarter Three Quarters
 Ending Ending
 Jan. 31, 1992 Jan. 31, 1992
 Revenue
 Net sales of product $ 1,730,000 $ 3,980,000
 Sales of distribution rights 50,000 195,000
 Total revenue $ 1,780,000 $ 4,175,000
 Cost and expenses
 Cost of goods sold 743,000 1,670,000
 Operating expenses 908,000 2,542,000
 Total cost and expenses 1,651,000 4,212,000
 Operating income (loss) 129,000 (37,000)
 Gain on sales of investment holdings --- 330,000
 Interest expense - net (48,000) (110,000)
 Miscellaneous expense (8,000) (17,000)
 Income before income taxes and
 extraordinary credit 73,000 166,000
 Income tax charge representing tax
 effect of net operating loss carryforward 23,000 50,000
 Income before extraordinary credit 50,000 116,000
 Extraordinary credit - tax benefit of ultization
 of net operating loss carryforward 23,000 50,000
 Net Income 73,000 166,000
 Earnings per share of common stock
 Income before extraordinary credit $ .03 $ .07
 Net income .04 .09
 Weighted average number of common
 stock shares 1,784,000 1,784,000
 -0- 3/17/92
 /CONTACT: Mark A. Waldron, Jr. of Celex Group, 708-953-1222/ CO: Celex Group, Inc. ST: Illinois IN: SU: ERN


PS -- NY098 -- 9004 03/17/92 19:23 EST
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Date:Mar 17, 1992
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