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CHRISTIAN PURCHASING NETWORK, INC. ANNOUNCES PROFITABLE FIRST QUARTER

 SARASOTA, Fla., April 27 /PRNewswire/ -- Christian Purchasing Network, Inc. (NASDAQ: CPNI) today reported net income of $34,354 and gross revenues of $611,090 for the first quarter ended March 31, 1993 as compared to a net loss of $376,962 and revenues of $642,990 for the same period in 1992.
 The company has begun to reap the rewards of its new business development efforts. Financial results reflect a substantial decrease in selling, general and administrative expenses resulting from cost cutting measures implemented by management. The company was profitable during the first quarter despite the slight decline in revenues. Significantly, within the church products division, there were improvements in gross margins, which increased from 21 percent to 24 percent due primarily to an improved product mix. The division also realized a 112 percent increase in finders fees revenues associated with strategic marketing partnerships. The financial services division experienced a 14 percent increase in investment advisory fees during the first quarter.
 CEO Dr. Thomas J. McElheny commented that, "We are pleased to report that the company's value-added marketer strategy targeted at rapidly growing Christian denominations is yielding positive results. Our goal was to enhance the profitability of existing lines of business, while securing joint venture marketing agreements that facilitate the company's ability to broker a larger range of products to the church products and financial sectors." The company has effected a series of new strategic marketing partnerships with several national firms including Lanier Worldwide, a subsidiary of Harris Corp., Arthur J. Gallagher, and Sprint.
 Christian Purchasing Network is a niche marketer of financial services and capital goods to the Christian community. The Financial Services division provides investment advisory and portfolio management services to institutional and individual investors. The Church Products division brokers a select market basket of value-added goods and services to the church market through group pricing and service contracts. Christian Purchasing Network, founded in 1989, is headquartered in Sarasota, Fla.
 CHRISTIAN PURCHASING NETWORK, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 Quarter Ended March 31,
 1993 1992
 Total revenues $611,090 $642,990
 Net (loss) income from
 continuing operations 18,316 (282,820)
 Net (loss) income from
 continuing operations per share .00 (.03)
 Net (loss) income 34,354 (376,962)
 Weighted average shares outstanding 11,173,251 10,511,000
 -0- 4/27/93
 /CONTACT: Dr. Thomas J. McElheny, CEO of Christian Purchasing Network, 813-366-5775/
 (CPNI)


CO: Christian Purchasing Network, Inc. ST: Florida IN: FIN SU: ERN

AW-JB -- FL003 -- 1207 04/27/93 09:53 EDT
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Date:Apr 27, 1993
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