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DE TOMASO INDUSTRIES, INC. REPORTS EFFECTS OF MASERATI SALE TO FIAT

 RED BANK, N.J., June 18 /PRNewswire/ -- De Tomaso Industries, Inc. (NASDAQ: DTOM) today reported that it will realize a gain of Lit. 172,294,000,000 ($116,572,000) from the May 19, 1993, sale by its O.A.M. S.p.A. subsidiary of its 51 percent equity interest in Maserati S.p.A. to Fiat Auto S.p.A.
 The company explained that the gain will exceed the Lit. 75,750,000,000 ($51,217,000) purchase price which Fiat will pay for the Maserati stock between now and Jan. 1, 1995, because the sale eliminates the deficiency in assets which the company had accumulated in recent years because it had been required by certain accounting rules to absorb all of the subsidiary's operating losses. The deficiency in assets attributable to the Maserati subsidiary had grown to Lit. 102,494,000,000 ($69,340,000) at the end of the 1992 fiscal year.
 On a pro forma basis, the company will report shareholders' equity at Dec. 31, 1992, of Lit. 53,581,000,000 ($36,253,000). On a pro forma basis as of March 31, 1993, shareholder equity equaled Lit. 50,406,000,000 ($31,701,000).
 Management continues to evaluate its options for the future of the company and of the proceeds which will be realized from the sale. No decision has yet been reached.
 -0- 6/18/93
 /CONTACT: Howard E. Chase of De Tomaso Industries, 212-735-8679, or Charles W. Kouns of Finnegan & Agee, 804-697-4305, for De Tomaso/
 (DTOM)


CO: De Tomaso Industries, Inc.; Maserati S.p.A.; Fiat Auto S.p.A. ST: New Jersey IN: AUT SU:

CM -- CH003 -- 3464 06/18/93 09:38 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:284
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