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DAMES & MOORE COMMENTS ON ACQUISITION DISCUSSIONS; ANALYSTS' ESTIMATES

 DAMES & MOORE COMMENTS ON ACQUISITION DISCUSSIONS;
 ANALYSTS' ESTIMATES
 LOS ANGELES, Sept. 3 /PRNewswire/ -- Dames & Moore (NYSE: DM) announced today that it currently is holding negotiations with five firms which the company is hoping to acquire. Although offers have been made to each of these firms, none of the potential acquisitions is at a stage where details can be made known.
 The firms under consideration range in size up to about $50 million in revenues. Dames & Moore's strong financial position will enable it to make these acquisitions on a cash basis. None of the potential acquisitions is expected to be dilutive. While the company expects to complete one or more of these acquisitions, there is no assurance that terms will be developed which are agreeable to both parties.
 The company continues to experience relatively flat revenues; however, management believes that recent contract awards and staffing adjustments will enable the company to reach analysts' estimates of the March 1993 fiscal year net earnings of $1.15 to $1.25.
 Net earnings for the second half of the fiscal year will depend on both the extent of the U.S. economic recovery and the completion and timing of the potential acquisitions.
 -0- 9/3/92
 /CONTACT: Robert Perry, CFO of Dames & Moore, 213-683-1560/
 (DM) CO: Dames & Moore ST: California IN: CST SU:


KJ-LS -- LA009 -- 6225 09/03/92 08:03 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
Words:228
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