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FLEER ANNOUNCES DIVIDEND INCREASE AND SHARE REPURCHASE PROGRAM

 FLEER ANNOUNCES DIVIDEND INCREASE AND SHARE REPURCHASE PROGRAM
 MOUNT LAUREL, N.J., May 8 /PRNewswire/ -- Fleer Corp. (NASDAQ: FLER) today announced that its board of directors has approved a 50 percent increase in its quarterly dividend, to $.15 per share, coupled with an authorization to institute an open market share repurchase program of up to $30 million of Fleer common stock. The share repurchase program is currently expected to be
effected over a period of approximately three years. The ultimate size and duration of the share repurchase program, as well as the timing of the repurchase of shares, will depend upon market conditions and other factors existing from time to time.
 Fleer's current quarterly dividend of $.15 per share will be payable on May 29, 1992 to stockholders of record as of May 22, 1992.
 Paul Mullan, chairman and chief executive officer of Fleer said, "we are committed to increasing shareholder value and believe that the combination of increasing our quarterly dividend and initiating a repurchase program represents significant steps toward achievement of that goal."
 Mullan further noted that, "the repurchase program has been undertaken because we believe that Fleer's common stock is undervalued at recent trading ranges and therefore it represents a good investment for us and an attractive use of a portion of our available funds. We believe Fleer's current cash position and its anticipated cash flow from operations provide it with adequate resources to meet expected working capital and capital expenditure requirements for the immediate future, as well as funding for the repurchase program and the dividend increase announced today. The company will continue to review business development and acquisition opportunities in related areas."
 Fleer Corp., with operations in North America and Europe, is a leading marketer of sports picture cards (baseball, football and basketball) and confectionery products including Dubble Bubble gum products.
 -0- 5/8/92
 /CONTACT: Matthew Harrington of Edelman Worldwide, 212-704-8103, for Fleer/
 (FLER) CO: Fleer Corp. ST: New Jersey IN: HOU SU: DIV


TS-SB -- NY006 -- 7946 05/08/92 08:33 EDT
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Publication:PR Newswire
Date:May 8, 1992
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