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HOLNAM INC REPORTS FIRST QUARTER RESULTS

 HOLNAM INC REPORTS FIRST QUARTER RESULTS
 DUNDEE, Mich., May 13 /PRNewswire/ -- Holnam Inc (NYSE: HLN) today


reported consolidated revenues of $138.4 million and a net loss of $26.2 million for the first quarter and ended March 31, 1992, compared with revenues of $135.3 million and a net loss of $25.4 million in the first quarter of 1991.
 Holnam Operations' portion of the first quarter net loss was $18.5 million, as compared with a $19.2 million net loss for the first quarter of 1991. St. Lawrence Cement Company's portion of the first quarter net loss was $7.7 million, as compared with a $6.2 million net loss for the first quarter of 1991. St. Lawrence is 59 percent owned by Holnam and operates principally in eastern Canada and the northeastern United States, two areas that continue to be impacted by the recession.
 The increase in consolidated revenues of $3.1 million in the first quarter of 1992 was due principally to the increase in cement volumes in Holnam Operations' markets.
 Holnam Operations' shipments increased 29 percent compared with the first quarter of 1991, but were offset by modest price declines in most of the company's sales regions as compared with the comparable period in 1991. First quarter 1992 net sales for Holnam Operations were $92.0 million as compared with $82.0 million for the comparable period in 1991.
 First quarter cement and concrete shipments at St. Lawrence declined 23 percent and three percent, respectively, relative to 1991 levels. Prices remained relatively stable. First quarter 1992 net sales for St. Lawrence of $46.4 million reflect a decrease of $6.9 million from first quarter 1991 net sales of $53.3 million.
 "We are encouraged by what appears to be a gradual recovery of the U.S. economy," said Marc von Wyss, Holnam president and chief executive officer. "Price increases will be an important element if we are to achieve a significant improvement in earnings," he concluded.
 Holnam Inc is a leading producer of cement in North America. It is a subsidiary of Holderbank Financier Glaris Ltd., of Switzerland, one of the world's largest manufacturers of cement and allied construction materials.
 HOLNAM INC
 Condensed Consolidated Statements Of Operations
 (In thousands, except per-share amounts - unaudited)
 Three months ended March 31 1992 1991
 Sales $ 138,361 $ 135,277
 Cost of sales 135,113 130,648
 Selling and administrative expenses 27,365 28,868
 Loss from operations (24,117) (24,239)
 Interest expense, net 13,468 14,236
 Other (income) expense 65 (145)
 Loss Before income taxes and minority
 equity in net income (loss) (37,650) (38,330)
 Income tax provision (credit) (6,089) (8,839)
 Minority equity in net income (loss) (5,325) (4,082)
 Net loss $ (26,236) $ (25,409)
 Per common share $ (.19) $ (.19)
 Weighted average common shares
 outstanding 134,850 134,763
 The cement business is highly seasonal; consequently, results for interim periods should not be considered representative of the expected results for the full year.
 -0- 5/13/92
 /CONTACT: Thomas A. Chizmadia of Holnam, 313-529-2411 ext. 2294 or Kathy Liebmann of Gavin Anderson & Co., 212-921-1060, for Holnam /
 (HLN) CO: Holnam Inc. ST: Michigan IN: SU: ERN


LR -- NY104 -- 9899 05/13/92 16:40 EDT
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Date:May 13, 1992
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