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ELCOR OUTLOOK FOR SHARPLY HIGHER EARNINGS CONTINUES TO BE EXCELLENT

 DALLAS, April 28 /PRNewswire/ -- In response to inquiries, Elcor Chief Financial Officer, Richard J. Rosebery, said, "We are not aware of any business reason for a decrease in the price of Elcor common stock earlier in the day. Elcor's outlook for sharply higher earnings continues to be excellent. Nothing has occurred to change the comments in our press release of April 14, 1993, which states in part:
 Elcor reported today that continuing strong demand, coupled with improved prices for its Elk Prestique(R) premium laminated fiberglass asphalt roofing shingles enabled the company to achieve a very substantial increase in earnings on a 30 percent gain in sales for the third quarter ending March 31, 1993.
 Third quarter earnings of $.50 per share, compared to a loss of $.05 per share last year, assure that fiscal 1993 earnings from continuing operations should be the best in company history.
 The company added that it also expects sharply higher earnings from continuing operations for its fourth quarter and fiscal year ending June 30, 1993, as compared to the same periods last year. Elcor also believes continuing strong cash flow, which has enabled the company to reduce its long-term debt by 53 percent during the last year, should further improve the company's overall financial position in the fourth quarter.
 "Strong earnings and cash flow are providing an increasingly strong base of financial resources to take advantage of growth opportunities," Campbell concluded.
 Elcor manufactures roofing products and industrial products. Each of Elcor's principal operating subsidiaries is the leader or one of the leaders within its particular market. Its common stock is listed on the New York Stock Exchange (ticker symbol: ELK).
 Elcor's roofing products facilities are located in Tuscaloosa, Ala.; Dallas and Ennis, Texas. Its industrial products facilities are located in Cleveland, Ohio; Dallas, Lufkin, Midland, and Waco, Texas.
 For more information on Elcor Corporation, simply dial 1-800-PRO-INFO and enter the number 055.
 -0- 4/28/93
 /CONTACT: Richard J. Rosebery, vice president, treasurer and chief financial officer, of Elcor Corporation, 214-851-0500/
 (ELK)


CO: Elcor Corporation ST: Texas IN: CST SU:

LR -- NY095 -- 2183 04/28/93 15:17 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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