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INDE ANNOUNCES YEAR-END RESULTS

 INDE ANNOUNCES YEAR-END RESULTS
 LOS ANGELES, April 1 /PRNewswire/ -- Independent Entertainment Group


Inc. (NASDAQ: INDE) announced today its results of operations for the calendar year ended Dec. 31, 1991.
 Revenues were $7,067,023 for 1991, as compared to $12,032,084 for 1990. Net income was $1,026,008 ($.05 per share), excluding the tax benefit from a net operating loss carryforward of $540,000 ($.02 per share), as compared to net income for 1990 of $434,287 ($.03) per share). Total shareholders' equity increased 139 percent to $2,964,773 in 1991 from $1,240,016 in 1990. Weighted average number of common shares outstanding for 1991 and 1990 were 19,756,974 and 15,031,359, respectively.
 The lower revenues reported in 1991 compared to 1990 were primarily caused by the impact on business resulting from the lender liability lawsuit and the resulting bankruptcy filing of INDE's operating subsidiary in August of 1991. The lawsuit was settled and the bankruptcy dismissed in October of 1991. Income in 1991 was negatively impacted by the operating loss of the company's start-up "ConnectCard" subsidiary, which launched the pay-per-call industry's only specialized charge card in June of 1991.
 INDE's Chief Executive Officer Robert Lautz stated that, "We are very pleased with our results in 1991, given the issues and adversity the company had to deal with. The company is now well postured for growth. The ConnectCard is very close to breakeven, and the company has fully integrated and absorbed the impact of its acquisition of Coral Inc. in March 1991. We believe that with our strategic alliance with Charter Pacific Bank and other industry leaders, we are well-positioned to focus on growth in revenues and operating earnings."
 INDE is a leading innovator in the "pay-per-call" business, and is active in other emerging "new media," including "pay-per-view."
 -0- 4/1/92
 /CONTACT: Fran Daniels of Financial Sciences of America, 310-278-4413, for Independent Entertainment Group/
 (INDE) CO: Independent Entertainment Group, Inc. ST: California IN: ENT SU: ERN


JL-EH -- LA012 -- 3737 04/01/92 09:02 EST
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Publication:PR Newswire
Date:Apr 1, 1992
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