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GIANT GROUP, LTD. SECOND QUARTER 1992 RESULTS

 GIANT GROUP, LTD. SECOND QUARTER 1992 RESULTS
 BEVERLY HILLS, Calif., July 31 /PRNewswire/ -- Giant Group, Ltd.


(NYSE: GPO) announced today the results of the second quarter and the six months ended June 30, 1992.
 Net loss for the three months ended June 30, 1992, was $209,000 or $.06 per share compared to a net loss of $1,131,000 or $.32 a share in the second quarter of 1991. Net loss for the six months ended June 30, 1992, was $2,659,000 or $.77 per share compared to a net loss of $4,363,000 for the six months ended June 30, 1991, or $1.24 per share.
 Giant Group, Ltd., owns 44 percent of Rally's Inc. (NASDAQ: RLLY). Rally's is the nation's largest double drive-thru hamburger chain and operates or franchises 406 restaurants in 25 states. Giant also owns Keystone Cement Company and Giant Cement Company, who manufacture and sell cement products in southeastern, northeastern, and middle atlantic regions of the United States. Giant is a pioneer in the Resource Recovery burning of waste materials.
 GIANT GROUP, LTD.
 FINANCIAL HIGHLIGHTS
 (Unaudited)
 Three Months Ended Six Months Ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Net sales $20,978,000 $18,522,000 $35,293,000 $30,376,000


Operating income
 (loss) 175,000 109,000 (3,821,000) (4,795,000)


Loss before income
 taxes (317,000) (1,621,000) (4,027,000) (6,373,000)


Credit for income
 taxes (108,000) (490,000) (1,368,000) (2,010,000)
 Net loss $(209,000) $(1,131,000) $(2,659,000)$(4,363,000)
 Per common share:
 Primary $(.06) $(.32) $(.77) $(1.24)
 Fully diluted (a) (a) (a) (a)


Weighted average

common shares:
 Primary 3,454,000 3,530,000 3,465,000 3,530,000
 Fully diluted (a) (a) (a) (a)
 (a) Not presented, antidilutive.
 -0- 7/31/92
 /CONTACT: David Gotterer, vice chairman, Giant Group, Ltd., 212-826-6000/
 (GPO RLLY) CO: Giant Group Ltd. ST: California IN: SU: ERN


CH -- LA010 -- 5488 07/31/92 10:07 EDT
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Publication:PR Newswire
Date:Jul 31, 1992
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