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IDB COMMUNICATIONS GROUP REPORTS RECORD SECOND QUARTER AND SIX MONTH RESULTS

 LOS ANGELES, July 27 /PRNewswire/ -- IDB Communications Group Inc. (NASDAQ: IDBX) today reported record results for the second quarter ended June 30, 1993. Revenue for the quarter was $71,335,000, up 97 percent over the $36,228,000 reported for the same period in 1992. Second quarter 1993 net income before preferred stock dividend rose 179 percent to $5,359,000 or 28 cents per share on a fully diluted basis, from $1,919,000 or 17 cents per share, in the same quarter a year ago. Fully diluted weighted average shares outstanding for the quarter were 19,125,000 versus 11,494,000 shares in the second quarter of 1992.
 Revenue for the first six months of 1993 was $135,756,000, up 108 percent over the $65,312,000 reported for the six-month period in 1992. First half 1993 net income before preferred stock dividend rose 203 percent to $9,802,000 or 53 cents per share on a fully diluted basis, from $3,237,000 or 29 cents per share, in the first half last year.
 "We continue to be pleased with the results in all four IDB business units," stated Jeffrey Sudikoff, chairman and chief executive officer. "Of particular note, IDB WORLDCOM continues to sign new operating agreements with foreign governments and increase its international long distance minute run-rate."
 Edward Cheramy, president, noted, "This was our second quarter consolidating the financial results of our 1992 WorldCom acquisition. The 179-percent increase in net income before preferred stock dividend continues to be due to the successful integration of WorldCom's operations into IDB.
 "In May, the company sold 1,499,999 shares of common stock at a price of $36.50 per share in a secondary offering," continued Cheramy. "Net proceeds of approximately $52 million from the sale are being used for the reduction of long-term debt. On July 9, we filed a registration statement with the Securities and Exchange Commission for a public offering of $125 million convertible subordinated notes due 2003. The proceeds will be used to repay all of IDB's outstanding senior indebtedness and to finance possible future acquisitions, working capital and for general corporate purposes."
 IDB Communications Group Inc. is a global telecommunications company that operates a domestic and international communications network providing its customers with radio and television transmission services, international private-line and long distance telephone services, facsimile and data connections, mobile satellite communications capabilities and the design and integration of satellite networks worldwide.
 IDB COMMUNICATIONS GROUP INC.
 Operating Results
 (In thousands, except per-share amounts)
 Three Months Six Months
 Ended June 30: 1993 1992 1993 1992
 Revenues:
 Transmission services $ 62,478 $ 30,618 $119,167 $ 57,221
 Systems integration
 and other income 5,657 4,110 11,589 6,091
 Fees earned from TRT
 and WorldCom 3,200 1,500 5,000 2,000
 Total revenues 71,335 36,228 135,756 65,312
 Costs and expenses:
 Costs of sales 46,781 23,557 88,535 41,975
 Selling, general &
 administrative 8,258 5,066 15,939 9,424
 Depreciation 4,616 1,891 9,156 3,996
 Amortization 1,168 887 2,227 1,601
 Total costs & expenses 60,823 31,401 115,857 56,996
 Operating income 10,512 4,827 19,899 8,316
 Net interest expense 1,433 1,655 3,322 2,972
 Income before minority
 interest and income taxes 9,079 3,172 16,577 5,344
 Minority interest (72) 168 (102) 216
 Income before income taxes 9,007 3,340 16,475 5,560
 Income tax provision 3,648 1,421 6,673 2,323
 Net income before preferred
 stock dividend 5,359 1,919 9,802 3,237
 Preferred stock dividend 340 --- 718 ---
 Net income available to
 common shareholders $ 5,019 $ 1,919 $ 9,084 $ 3,237
 Primary earnings per
 share $ 0.29 $ 0.17 $ 0.55 $ 0.30
 Fully diluted earnings
 per share $ 0.28 $ 0.17 $ 0.53 $ 0.29
 Weighted average common
 shares outstanding:
 Primary 17,120,000 11,494,000 16,545,000 10,944,000
 Fully diluted 19,125,000 11,494,000 18,552,000 11,242,000
 -0- 7/27/93
 /CONTACT: Rudy Wann, IDB vice president and chief financial officer, 213-240-3805; or Doug Sherk or Ken Dennard, 415-296-7383, or Miriam Adler, 212-850-5631, all of Morgen-Walke, for IDB/
 (IDBX)


CO: IDB Communications Group Inc. ST: California IN: TLS SU: ERN

GT-BR -- SF004 -- 5985 07/27/93 06:30 EDT
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Date:Jul 27, 1993
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