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DE TOMASO INDUSTRIES REPORTS NET INCOME FOR 1992

 RED BANK, N.J., April 19 /PRNewswire/ -- Santiago De Tomaso, president of De Tomaso Industries, Inc. (NASDAQ: DTOM), reported today that the company, based on preliminary unaudited financial information, had a consolidated net loss of Lit. 75,984,000,000 ($51,410,000)(A) on net sales revenues of Lit. 148,538,000,000 ($100,499,000) in the fiscal year ended Dec. 31, 1992, compared with a consolidated net loss in fiscal 1991 of Lit. 17,320,000,000 ($11,718,539) on net sales revenues of Lit. 203,785,000,000 ($137,878,890). The loss in 1992 was equal to Lit. 36,931 ($24.99) per share, compared to a net loss of Lit. 8,418 ($5.69) per share in 1991.
 Consolidated losses for fiscal 1992 were significantly higher than those realized in fiscal 1991, principally due to a significant decrease in sales revenues. The decrease in sales revenues was the result of a variety of factors, including the suspension of the "Panda" program in December 1991; interruptions of production and shipments of finished cars and components from the company's Milan facility during the second quarter of 1992 caused by a labor strike dispute; a weak demand for the company's products; a depressed demand in the luxury section of the automobile market, and generally weak economic conditions.
 In an effort to reduce future losses, the company closed Maserati's Milan facility on March 31, 1993. Although the plant closing should help to reduce future losses markedly, continuing losses are anticipated as the result of the current slump in the luxury automobile market.
 The company is in an advanced stage of negotiations with Fiat Auto, S.p.A., with respect to a transaction which should address the current financial condition and future of the company's Maserati subsidiary. Although there are no assurances that the transaction with Fiat will ultimately be completed, the company expects negotiations to conclude in the near future.
 The company filed its 1992 annual report on form 10-K with the Securities and Exchange Commission on April 16, 1993, without audited financial information which is expected to be filed with the SEC by April 23, 1993.
 At a special meeting of the company's board of directors held on April 2, 1993, in Modena, Italy, the size of the board was expanded by two. Messrs. Mario Tozzi-Condivi and Santiago De Tomaso were elected to fill the newly created vacancies. Santiago De Tomaso was also elected to the office of president of the company. His father, Alejandro De Tomaso, the company's chairman, remains hospitalized while recovering from a stroke suffered in January.
 (A) All figures given in dollars are based upon the conversion rate of 1,178 lire to the dollar in effect at Dec. 31, 1992, and are for comparative purposes only.
 DE TOMASO INDUSTRIES, INC.
 (Expressed in millions of (Expresse


d in
 Italian lire except net thousands of
 per share) U.S. Dollars)(A)
 Net Sales Lit. 148,538 Lit. 203,785 $100,499 $137,879
 Net Income (loss) Lit. (75,984) Lit. (17,320) $(51,410) $(11,719)
 Net Income (loss)
 per share(B) Lit. (36,931) Lit. ( 8,418) $( 24.99) $( 5.69)
 (A) Translated in U.S. dollar equivalents at the exchange rate
 prevailing at Dec. 31, 1992.
 (B) Net loss per share for the year ended Dec. 31, 1992, is computed
 only on the number of shares of common stock outstanding during
 the year. Net income per share for the year ended Dec. 31, 1991
 is computed on the number of shares of common stock and dilutive
 common stock equivalents outstanding during the year. Dilutive
 common stock equivalents were not taken into consideration in
 fiscal 1992, since to do so would have been anti-dilutive.
 -0- 4/19/93
 /CONTACT: Howard E. Chase of De Tomaso Industries, Inc., 212-735-8600, or Charles W. Kouns of Martin Public Relations, 804-344-3862, for De Tomaso Industries, Inc./
 (DTOM)


CO: De Tomaso Industries, Inc. ST: New Jersey IN: AUT SU: ERN

MM -- CH008 -- 7370 04/19/93 12:06 EDT
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Date:Apr 19, 1993
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