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HOLNAM REPORTS 1992 RESULTS

 DUNDEE, Mich., Feb. 26 /PRNewswire/ -- Holnam Inc. (NYSE: HLN) of Dundee, Mich., reported today a consolidated net loss for 1992 of $28.6 million. Of this amount, $4.1 million ($11 million pre-tax and before minority equity in net loss) reflects charges provided by Holnam's 59 percent owned subsidiary, St. Lawrence Cement Company, for restructuring of its Canadian and U.S. operations. This compares to a 1991 Holnam consolidated net loss of $95.1 million, which included charges for unusual items, including restructuring costs, of $58.5 million ($62 million pre-tax and before minority equity in net loss). Consolidated net sales for 1992 were $946 million compared to $979 million the previous year.
 Excluding unusual items, Holnam's 1992 consolidated net loss would have been $24.5 million. Holnam Operations, which covers the company's fully owned operations in the United States, contributed net losses of $11.6 million in 1992 compared with losses of $32.2 million in 1991. St. Lawrence contributed net losses of $12.9 million in 1992 as compared to losses of $4.4 million in 1991. St. Lawrence operates principally in Eastern Canada and the Northeastern United States.
 The decrease in consolidated annual net sales of $33 million, as compared to 1991, was due primarily to lower average price per ton in 1992 as compared to 1991 (more than offset by volume increases) in the majority of Holnam's U.S. markets, sales volume decreases in the markets served by St. Lawrence, and the effect of the 1992 weakening of the Canadian dollar.
 "I am pleased that in many markets we have continued to reduce the losses of Holnam's U.S. operations, and we hope that many regional stagnant economies, which impacted our 1992 consolidated results, will strengthen in 1993," said Marc von Wyss, president & CEO. "Overall, with the changes being implemented, the success of our cost-cutting efforts, and the total involvement of our employees, we are poised and ready to maintain our leadership role in the cement and related building materials industries."
 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)
 Fourth Quarter Twelve Months
 Periods ended Dec. 31 1992 1991 1992 1991
 Sales $239,924 $251,061 $946,176 $979,297
 Cost of sales 212,738 225,264 836,066 857,520
 Selling and administrative
 expenses 25,344 30,374 109,789 119,997
 Unusual charges 11,037 61,672 11,037 61,672
 Income (loss) from operations (9,195) (66,249) (10,716) (59,892)
 Interest expense, net 11,507 13,194 51,808 56,534
 Other (income) expense 8,042 (688) 4,469 (4,416)
 Loss before income taxes and minority
 equity in net income (loss) (28,744) (78,755) (66,993) (112,010)
 Income tax provision
 (credit) (16,956) (6,488) (23,657) (13,794)
 Minority equity in net
 income (loss) (7,302) (1,190) (14,764) (3,162)
 Net income (loss) $ (4,486) $(71,077) $(28,572) $(95,054)
 Per common share $ (0.03) $ (.53) $ (.21) $ (.71)
 Weighted average common shares
 outstanding 134,916 134,801 134,883 134,782
 -0- 2/26/93
 /CONTACT: Thomas A. Chizmadia, vice president-corporate communications of Holnam Inc., 313-529-4306; or Kathy Liebmann of Gavin Anderson & Company, 212-921-1060, for Holnam/
 (HLN)


CO: Holnam Inc. ST: Michigan IN: SU: ERN

WB -- NY058 -- 1009 02/26/93 16:49 EST
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Date:Feb 26, 1993
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