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DUFF & PHELPS CORPORATION ANNOUNCES RECORD 1992 EARNINGS, A THREE-FOR-TWO STOCK SPLIT AND A QUARTERLY CASH DIVIDEND

 CHICAGO, Feb. 10 /PRNewswire/ -- Duff & Phelps Corporation (NYSE: DUF) today announced that earnings per share, on a pre-split basis, (before extraordinary item) for 1992 reached a new high, increasing 85 percent to $1.50 per share compared to 81 cents per share in 1991. The average number of shares outstanding increased 40 percent, reflecting a stock offering in March 1992. Pre-split earnings per share rose to $.43 for the fourth quarter of 1992.
 Revenues for 1992 were $84.2 million, an increase of 23 percent, and net income (before extraordinary item) climbed to $17.5 million, an increase of 160 percent.
 "We are extremely pleased to announce that revenues and earnings were contributed to the excellent results," said Francis E. Jeffries, president and chief executive officer of Duff & Phelps Corporation.
 The company also announced a three-for-two stock split payable March 10, 1993 to shareholders of record Feb. 22, 1993.
 In addition the company declared an initial quarterly dividend of $.04 per share on the split shares payable March 10, 1993 to shareholders of record Feb. 22, 1993.
 The company also announced that, after the split, it intends to repurchase 1.5 million post-split shares of the approximately 8.2 million shares owned by its largest shareholder, Freeman Spogli & Co. This repurchase would be made in connection with a public offering by Freeman Spogli of three million post-split Duff & Phelps shares. The price paid by Duff & Phelps will be the same as the price as would be paid by the public. These transactions are expected to be completed simultaneously when the company has finalized financing for the repurchase and a registration statement for the three million shares becomes effective. The company expects a registration statement to be filed in approximately two weeks and the public offering will be made only by means of a prospectus.
 Mr. Jeffries commented, "The 1.5 million share repurchase is expected to enhance earnings per share. The three million share offering by Freeman Spogli & Co. will add to the outstanding float and should increase the liquidity of the shares in the marketplace, management is enthusiastic about these actions and looks forward to continuing the growth of Duff & Phelps."
 The company completed an initial public offering of 3.6 million shares of its pre-split common stock in March 1992 and the proceeds were used to retire all of the company's outstanding senior subordinated debt. The company also entered into a new bank agreement, thereby terminating an existing higher-cost loan. An extraordinary loss of $5.9 million was recorded in 1992 due to the early redemption of the senior subordinated debt and the refinancing of the bank facility. An extraordinary gain of $179,000 was realized in 1991 from the retirement of debt at a discount.
 Duff & Phelps provides investment management, credit rating, investment research and financial consulting services to institutions, corporations and individuals.
 DUFF & PHELPS CORPORATION
 Results
 Quarter ended
 Dec. 31 1992 1991
 Revenues $22,281,000 $19,576,000
 Income before extraordinary item 5,338,000 3,456,000
 Extraordinary item (a) -- (1,195,000)
 Net income 5,338,000 2,261,000
 Earnings per share:
 Income before extraordinary item $ 0.43 $ 0.41
 Net Income 0.43 0.27
 Average Shares 12,506,000 8,363,000
 Year ended
 Dec. 31 1992 1991
 Revenue $84,162,000 $68,346,000
 Income before extraordinary item 17,480,000 6,737,000
 Extraordinary item (a) (5,932,000) 179,000
 Net income $11,548,000 6,916,000
 Earnings per share:
 Income before extraordinary item $ 1.50 $ 0.81
 Net Income 0.99 0.83
 Average shares 11,688,000 8,363,000
 (a) Early extinguishment of debt Figures in parenthesis are losses
 -0- 2/10/93
 /CONTACT: Francis E. Jeffries, president and CEO of Duff & Phelps Corporation, 312-630-4501/
 (DUF)


CO: Duff & Phelps Corporation ST: Illinois IN: FIN SU: ERN DIV

WB -- NY100 -- 5383 02/10/93 17:17 EST
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Date:Feb 10, 1993
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