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FCB REPORTS RECORD SECOND QUARTER RESULTS

 CHICAGO, Aug. 10 /PRNewswire/ -- Foote, Cone & Belding Communications, Inc. (NYSE: FCB), today reported both second quarter net income and earnings per share reached record levels for the company.
 Net income for the second quarter totaled $8,899,000 or $.80 per share in 1993, up 16.7 percent over 1992 second quarter net income of $7,624,000 or $.71 per share.
 Net income for the first half of 1993 increased 17.4 percent to $10,403,000 or $.93 per share compared to $8,861,000 or $.82 per share in 1992 excluding a one-time accounting change.
 Quarter Ended June 30, 1993
 Revenues increased 8.3 percent to $93,739,000 in 1993 from $86,550,000 in 1992.
 Operating margin for consolidated operations increased 8.5 percent to $7,325,000 in 1993 from $6,750,000 in 1992.
 Six Months Ended June 30, 1993
 Revenues for the six months ended June 30, 1993 totaled $172,916,000, up 4.6 percent over 1992 revenues of $165,261,000.
 Operating margin for consolidated operations increased 8.3 percent to $11,954,000 in 1993 compared to $11,038,000 in 1992.
 Although results for the second quarter and six months are not necessarily indicative of results for the full year, the company is confident that it is on track towards achieving its growth targets for 1993 full-year results.
 New Business Gains
 FCB's new business performance in the second quarter continued the strong momentum achieved in the first quarter. Recent wins include: Clorox home cleaning brands and Coors Banquet brand (FCB San Francisco); Colgate-Palmolive's Irish Spring line, Hiram Walker's Beefeater Gin and Campbell's Vlasic Foods (FCB/Leber Katz Partners, New York); Cadbury's Oasis Beverages (FCB Chicago); ARA Services (FCB Philadelphia); Australian Government Food Export Program and Tourism Victoria (MOJO, Melbourne); Totalizer Agency Board of Victoria (Thomson White/FCB, Melbourne) and Colgate-Palmolive Products (Prakit/FCB, Thailand).
 FCB Chairman and CEO Bruce Mason said, "The company's performance during the first half of 1993 has established FCB as one of the industry's top new business gainers. We are right on course to achieve improved revenues and net income for the full year."
 Foote, Cone & Belding ranks as the seventh largest worldwide advertising company, and the largest agency in the U.S. Its network includes 180 offices in 46 countries, with worldwide billings, including Publicis-FCB European operations, totaling more than $6 billion.
 FOOTE, CONE & BELDING COMMUNICATIONS, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 (000s except per-share amounts)
 QUARTER ENDED JUNE 30, 1992 1993 Pct Increase
 (Decrease)
 Revenues $ 86,550 $ 93,739 8.3
 Operating expenses 79,800 86,414 8.3
 Operating margin $ 6,750 $ 7,325 8.5
 Other Income (expense) (1,407) (1,001) (28.9)
 Income Before provision for
 taxes on income $ 5,343 $ 6,324 18.4
 Provision for federal, foreign
 and state income taxes 2,642 2,748 4.0
 $ 2,701 $ 3,576 32.4
 Minority interest expense (47) (120) 155.3
 Equity in earnings (losses) of
 affiliated companies 4,970 5,443 9.5
 Net income $ 7,624 $ 8,899 16.7
 Per common and common
 equivalent share $ 0.71 $ 0.80 12.7
 Average number of common and common
 equivalent shares outstanding 10,813 11,192 3.5
 Operating margin percentage 7.8 pct 7.8 pct
 SIX MONTHS ENDED JUNE 30, 1992 1993 Percent
 (Decrease)
 Revenues $165,261 $172,916 4.6
 Operating expenses 154,223 160,962 4.4
 Operating margin $ 11,038 $ 11,954 8.3
 Other income (expense) (2,290) (1,950) (14.8)
 Income before provision for
 taxes on income $ 8,748 $ 10,004 14.4
 Provision for federal, foreign
 and state income taxes 4,324 4,589 6.1
 $ 4,424 $ 5,415 22.4
 Minority interest expense (72) (167) 131.9
 Equity in earnings (losses) of
 affiliated companies 4,509 5,155 14.3
 Net income before change
 in accounting $ 8,861 $ 10,403 17.4
 Impact of change in accounting 3,681 -- (100.0)
 Net income $ 12,542 $ 10,403 (17.1)
 PER COMMON AND COMMON EQUIVALENT SHARE
 Net income before change in
 accounting $ 0.82 $ 0.93 13.4
 Impact of change in accounting 0.34 -- (100.0)
 Net income $ 1.16 $ 0.93 (19.8)
 Average number of common and common
 equivalent shares outstanding 10,776 11,160 3.6
 Operating margin percentage 6.7 pct 6.9 pct
 -0- 9/10/93
 /CONTACT: Terry Ashwill, 312-751-7002, or Owen Dougherty, 312-751-7789, both of Foote, Cone & Belding Communications, Inc./
 (FCB)


CO: Foote, Cone & Belding Communications, Inc. ST: Illinois IN: ADV SU: ERN

SH -- NY038 -- 1146 08/10/93 11:07 EDT
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Date:Aug 10, 1993
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