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CRAWFORD AND COMPANY ANNOUNCES EARNINGS PROJECTION

 CRAWFORD AND COMPANY ANNOUNCES EARNINGS PROJECTION
 ATLANTA, June 30 /PRNewswire/ -- F.L. Minix, chairman and chief


executive officer of Crawford & Company (NYSE: CRDB CRDA), announced today that a slowing in the company's rate of revenue growth would likely produce second quarter 1992 net earnings which are 10-20 percent below the second quarter of 1991.
 Minix stated that the combined effects of the sluggish economic recovery and the competitive environment in the commercial property and casualty insurance industry have resulted in slower revenue growth during the second quarter of 1992.
 Minix stated that, although revenues during the first quarter 1992 (ended March 31) increased by nearly 11 percent over the first quarter 1991, revenues for the second quarter 1992 would reflect a modest gain of around 4 percent. Minix said that second quarter 1992 worldwide revenues from claims administration are expected to be about the same level reported for the second quarter 1991, while healthcare revenue during the second quarter 1992 will likely increase by around 15-17 percent over the year-earlier period. This reflects a slower growth in healthcare revenues, Minix added, primarily due to fewer workers' compensation claims which also require the company's healthcare cost containment services.
 "We have been subject to these economic and competitive forces before, in the early 1980s," Minix said, "and we are confident that we can meet these challenges. The insurance industry is changing and we must change with it in order to compete more effectively in the future."
 Minix said that the company was taking cost control measures in response to the lower revenues, but had not significantly curtailed projects which were strategically important, especially those involving client service and new sources of revenues.
 Crawford & Company is a diversified service firm which provides claims services, risk management services, health care management and risk control services, as well as risk management information systems, to insurance companies, corporations and self-insured entities.
 -0- 6/30/92
 /CONTACT: Donald R. Chapman of Crawford & Company, 404-847-4412/
 (CRDB CRDA) CO: Crawford & Company ST: Georgia IN: INS SU: ERP


EA-BN -- AT004 -- 5052 06/30/92 09:57 EDT
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Publication:PR Newswire
Date:Jun 30, 1992
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