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HOLLINGER INC. EARNINGS

 TORONTO, Nov. 15 /PRNewswire/ - Hollinger Inc. announces its UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1993 with comparison to the nine months ended September 30, 1992.
 TOTAL PER COMMON SHARE
 1993 1992 1993 1992
 ------ ------ ------ ------
 (millions of dollars) (dollars)
 Total revenue 647.0 654.6 N/A N/A
 Net earnings 31.4 63.2 0.45 1.00
 Cash flow provided
 by operations 77.3 89.2 1.28 1.47
 N/A - not applicable
 Excluding the effect of Unusual Items (net of income taxes and minority interest), discontinued operations and the net cost associated with the investment in Southam Inc. in 1993 ($11.8 million), earnings were $33.8 million in 1993 compared with $34.5 million in 1992 or 50 cents per common share in 1993 compared with 48 cents in 1992. Operating results continue to show encouraging improvements in our non-Canadian businesses. The positive effect of this has been offset by the depressed advertising market in Canada and a significant reduction in the value of the pound sterling ($1.93 in 1993 versus $2.17 in 1992).
 In 1993 the only significant inclusion in Unusual Items is the gain on the sale of shares of Trinity International Holdings plc in the first quarter compared to the net gain in 1992 which included the loss on the sale of shares of United Newspapers plc and the gain on the sale of 26 million Telegraph shares, less related costs, listing costs and costs related to preference share issues.
 -0- 11/15/93
 /CONTACT: J.A. Boultbee, Vice-President, Finance and Treasury, Hollinger Inc. 416-363-8721/
 (HLG.)


CO: Hollinger Inc. ST: Ontario IN: PUB SU: ERN

DH -- NY028 -- 4227 11/15/93 08:58 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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