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CHRISTIAN PURCHASING NETWORK ANNOUNCES QUARTERLY RESULTS

 CHRISTIAN PURCHASING NETWORK ANNOUNCES QUARTERLY RESULTS
 SARASOTA, Fla., Aug. 20 /PRNewswire/ -- Christian Purchasing Network Inc. (NASDAQ: CPNI), today announced its quarterly results for the three and six months ended June 30, 1992. Revenues from operations totaled $464,962 for the three months ended June 30, 1992, compared to revenues from operations of $274,723 for the same period in 1991. Revenues for the six months ended June 30, 1992, were $1,107,952, compared to $480,728 for the same period in 1991.
 Christian Purchasing Network Inc. (CPN) incurred a net loss of $466,515 (a loss of $.04 per share) during its second quarter in 1992 compared to net income of $208,777 (a gain of $.04 per share) during its second quarter in 1991. Net losses total $843,477 (a loss of $.08 per share) for the six months ended June 30, 1992 compared to net income of $356,980 (a gain of $.07 per share) for the same period in 1991. The net loss in 1992 compared to net income in 1991 reflects the business consolidation of CPN and the "Jordan Companies," as described below. Although revenues have increased, the company continues to incur substantial selling, general and administrative expenses associated with the various business ventures in which the company is engaging.
 Christian Purchasing Network realizes most of its income from its investment advisory business, Equity Assets Management Inc. in the fourth quarter. Therefore, this revenue is not recognized, for the most part, during the first three quarters.
 Thomas J. McElheny, CPN's president, commented: "Management has aggressively instituted general cost cutting measures to reduce selling, general and administrative expenses which the company has been incurring in connection with its entry into the financial services industries. These measures are intended to positively affect year-end results."
 The results for the year ended 1991 primarily reflect the activities of two money management companies acquired by the company effective Aug. 15, 1991, (Equity Assets Management Inc. and Jordan International Holdings Inc., collectively the "Jordan Companies"), the acquisition of which was treated as a reverse acquisition for accounting purposes. The results for the year reflect the activities of the Jordan Companies through Aug. 15, 1991, and the combined operations of the Jordan Companies and the company for the period Aug. 15 through Dec. 31, 1991.
 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. W. Neal Jordan, president of Equity Assets Management, has been one of the country's leading portfolio managers for the past 20 years. 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 (NASDAQ: CPNI), founded in 1989, is headquartered in Sarasota.
 CHRISTIAN PURCHASING NETWORK AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATION
 Three Months Six Months
 Ended June 30, Ended June 30,
 1992 1991 1992 1991
 Revenues $464,962 $274,723 $1,107,952 $480,728
 Net Income (loss) (466,515) 208,777 (843,477) 356,980
 Earnings (loss)
 per share (.04) .04 (.08) .07
 Weighted average
 shares outstanding 10,903,000 5,170,000 10,709,000 5,170,000
 -0- 8/20/92
 /CONTACT: Thomas J. McElheny of Christian Purchasing Network, 813-366-5775/
 (CPNI) CO: Christian Purchasing Network ST: Florida IN: FIN SU: ERN


TB-RM -- SF003 -- 1813 08/20/92 15:26 EDT
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Date:Aug 20, 1992
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