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DR PEPPER/SEVEN-UP COMPANIES REPORTS RECORD QUARTER AND YEAR-END RESULTS FOR SALES AND OPERATING PROFIT

        DR PEPPER/SEVEN-UP COMPANIES REPORTS RECORD QUARTER AND
            YEAR-END RESULTS FOR SALES AND OPERATING PROFIT
    DALLAS, Feb. 26 /PRNewswire/ -- Dr Pepper/Seven-Up Companies, Inc., the industry's third leading maker of soft drink concentrates and syrups, today reported record annual net sales and operating profit for the 12 months and quarter ended Dec. 31, 1991.
    Net sales for the 12 month period increased 11 percent to $600.9 million compared to $540.4 million for 1990.  Operating profit for the year increased 12 percent to $138.2 million.  Net loss for 1991 of $37.5 million included an $18.6 million debt restructuring charge incurred in connection with the refinancing transaction completed in August 1991. The loss compares to a $32.5 million loss for 1990.
    Fourth quarter 1991 net sales of $141.1 million, increased 14 percent compared to $124.3 million in the fourth quarter of 1990. Operating profit for the 1991 fourth quarter was $27.1 million, a 24 percent increase over the same period in 1990.
    Operating cash flow for the 12 month period increased 9 percent to $159.3 million compared to $146.3 million for 1990.  Fourth quarter 1991 operating cash flow of $31.5 million increased 14 percent compared to $27.5 million in the fourth quarter of 1990.
    Dr Pepper Company reported net sales for the 12 months ended Dec. 31, 1991 of $380.8 million, a 23 percent increase compared to $310.5 million for the same period in 1990.  Operating profit for the year increased 15 percent to $98.8 million.
    The Seven-Up Company reported net sales for the 12 months ended Dec. 31, 1991 of $220.1 million, a 4 percent decrease compared to $229.8 million for the same period in 1990.  Operating profit for the year increased 6 percent to $39.4 million.
    Dr Pepper/Seven-Up Companies, Inc. was formed in May 1988 by the merger of holding companies for Dr Pepper Company and The Seven-Up Company.  The two soft drink companies became wholly-owned subsidiaries of the new holding company.  Together, the brands of the two companies represent more than 10 percent of all soft drinks sold in the United States.
           DR PEPPER/SEVEN-UP COMPANIES, INC. AND SUBSIDIARIES
                Consolidated Statements of Operations
                    (In thousands, except per share data)
    Periods ended           Fourth Quarter           Total Year
     Dec. 31,             1991        1990        1991        1990
                             (unaudited)
    New sales           $141,147     124,297     600,941     540,368
    Cost of sales         28,638      24,638     118,757     109,837
      Gross profit       112,509      99,659     482,184     430,511
    Operating expenses:
     Marketing            74,317      66,262     302,192     264,147
     General and
      administrative       7,339       7,804      26,621      27,969
     Amortization of
      intangible assets    3,788       3,788      15,155      15,142
      Total operating
       expenses           85,444      77,854     343,968     307,258
     Operating profit     27,065      21,805     138,216     123,253
    Other income
     (expense):
     Interest expense    (38,916)    (36,853)   (147,957)   (146,481)
     Interest income       1,898         239       2,729         823
     Other, net           (4,882)     (2,394)    (11,849)     (9,567)
      Total other income
       (expense)         (41,900)    (39,008)   (157,077)   (155,225)
      Loss before income
       taxes and
       extraordinary
       items             (14,835)   (17,203)     (18,861)    (31,972)
    Income tax expense
     (benefit)            (2,807)       304        1,100         563
      Loss before
       extraordinary
       items             (12,028)    (17,507)    (19,961)    (32,535)
    Extraordinary items:
     Benefit from
      utilization of net
      operating loss
      carryfowards         2,524       --         (1,022)       --
     Debt restructuring
      charge               --          --         18,566        --
      Net loss           (14,552)    (17,507)    (37,505)    (32,535)
    Preferred stock
     dividend
     requirements          3,228       2,614      11,882       9,744
     Net loss attributable
     to outstanding
     common stock       $(17,780)    (20,121)    (49,387)    (42,279)
    Operating cash flow:
     Operating income   $ 27,065      21,805     138,216     123,253
     Depreciation            808         956       3,693       4,112
     Amortization          3,788       3,788      15,155      15,142
     Other                  (166)        961       2,275       3,773
     Operating cash
      flow              $ 31,495      27,510     159,339     146,280
    -0-           2/26/92
    /CONTACT: Jim Ball, 214-360-7812, or Tom Bayer, 214-360-7817, both of Dr Pepper/Seven-Up Companies/ CO:  Dr Pepper/Seven-Up Companies, Inc. ST:  Texas IN:  FOD SU:  ERN SH -- NY071 -- 2929 02/26/92 15:44 EST
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Date:Feb 26, 1992
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