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FINGERHUT RELEASES SUPPLEMENTAL FINANCIAL INFORMATION

 MINNEAPOLIS, Feb. 2 /PRNewswire/ -- Fingerhut Companies, Inc. (NYSE: FHT) announced today that it has released its consolidated statements of financial position dated Dec. 25, 1992 and Dec. 27, 1991.
 In addition, Fingerhut has released its consolidated statement of cash flows for the fiscal years ended Dec. 25, 1992; Dec. 27, 1991; and Dec. 28, 1990.
 Fingerhut Companies, Inc., one of the nation's largest catalog marketing companies, sells brand name and private label merchandise primarily through direct mail to an active customer base of 13 million customers. The company employs approximately 8,000 people in Minnesota, Wisconsin and Tennessee. Fingerhut Companies, Inc. common stock trades on the New York Stock Exchange under the symbol FHT.
 FINGERHUT COMPANIES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
 (In thousands of dollars)
 (Unaudited)
 12/25/92 12/27/91
 CURRENT ASSETS:
 Cash and cash equivalents $86,682 $9,226
 Customer accounts receivable, net 320,692 331,410
 Inventories, net 147,415 120,461
 Promotional material 49,649 43,529
 Deferred and other income taxes 69,368 78,491
 Other 8,308 8,003
 Total current assets 682,114 591,120
 Property, plant and equipment, net 167,697 141,956
 Excess of cost over fair value of net
 assets acquired, net 47,506 48,822
 Customer lists, net 15,692 17,176
 Other assets 12,640 2,925
 -- $925,649 $801,999
 CURRENT LIABILITIES:
 Accounts payable $151,419 $127,520
 Accrued payroll and employee benefits 36,098 32,610
 Other accrued liabilities 60,546 57,299
 Revolving credit facility -- 57,000
 Current portion of long-term debt
 and capitalized lease 333 5,853
 Current income taxes payable 20,717 12,593
 Total current liabilities 269,113 292,875
 Long-term debt and capitalized lease,
 less current portion 247,190 119,164
 Deferred income taxes 5,940 1,990
 Other non-current liabilities 3,815 3,821
 STOCKHOLDERS' EQUITY:
 Preferred stock, $.01 par value;
 5,000,000 shares authorized;
 none issued or outstanding -- --
 Common stock, $.01 par value;
 50,000,000 shares authorized;
 22,875,699 and 23,832,700 issued
 and outstanding in 1992 and 1991,
 respectively 229 238
 Additional paid-in capital 250,382 254,261
 Earnings reinvested 148,980 129,650
 Total stockholders' equity 399,591 384,149
 -- $925,649 $801,999
 FINGERHUT COMPANIES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF CASHFLOWS
 (In thousands of dollars)
 (Unaudited)
 Year Ended
 12/25/92 12/27/91 12/28/90
 Cash flows from operations:
 Net income $61,806 $53,558 $47,715
 Adjustments to reconcile net
 income to net cash provided
 (used) by operations:
 Depreciation 13,972 13,649 11,504
 Amortization of intangible
 and other assets 4,047 3,544 2,873
 Gain on termination of
 capitalized lease (1,150) -- --
 Change in assets and
 liabilities excluding
 the effects of business
 acquisitions:
 Customer accounts
 receivable, net 10,718 (95,371) (54,734)
 Inventories, net (26,954) 11,933 (52,036)
 Promotional material and
 other current assets (6,425) (2,430) (14,116)
 Accounts payable 23,899 2,756 58,455
 Accrued payroll and
 employee benefits 3,488 7,339 (238)
 Other accrued liabilities 3,247 (2,643) 6,557
 Current income taxes payable 8,124 (4,764) (9,371)
 Deferred and other
 income taxes 13,073 (1,348) (36,628)
 Other (10,845) (1,523) 656
 Total adjustments 35,194 (68,858) (87,078)
 Net cash provided (used)
 by operations 97,000 (15,300) (39,363)
 Cash flows from investing activities:
 Acquisitions -- -- (3,585)
 Additions to property, plant
 and equipment (50,900) (71,493) (21,101)
 Other -- -- 1,262
 Net cash used by investing
 activities (50,900) (71,493) (23,424)
 Cash flows from financing activities:
 Proceeds from long-term debt 135,000 110,000 --
 Repayments of long-term debt
 and capitalized lease (280) (5,282) (6,160)
 Revolving credit facility (57,000) (25,000) 82,000
 Stock redemption (52,851) -- (20,000)
 Issuance of common stock 14,135 19,361 --
 Capital distribution -- -- (1,275)
 Cash dividends paid (7,648) (7,370) (3,680)
 Decrease in amounts due from
 Primerica -- -- 14,464
 Net cash provided by financing
 activities 31,356 91,709 65,349
 Net increase in cash 77,456 4,916 2,562
 Cash and cash equivalents at
 beginning of year 9,226 4,310 1,748
 Cash and cash equivalents at
 end of year $86,682 $9,226 $4,310
 The company included in cash and cash equivalents liquid investments with maturities of three and 15 days in 1992 and maturities of three days in 1991 and 1990.
 Supplemental noncash investing and financing activities:
 The capital lease the company entered into in 1989 for computer equipment was terminated in 1992 resulting in the removal of:
 -- Capital lease assets net of accumulated amortization $11,064.
 -- Capital lease obligation net of termination penalty $12,214.
 -0- 2/2/93
 /CONTACT: Theodore Deikel of Fingerhut, 612-936-5410/
 (FHT)


CO: Fingerhut Companies, Inc. ST: Minnesota IN: REA SU: ERN

KH -- MN016 -- 2074 02/02/93 16:39 EST
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