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JOSTENS REPORTS SECOND QUARTER RESULTS

 MINNEAPOLIS, Jan. 18 /PRNewswire/ -- Jostens, Inc. (NYSE: JOS) today reported sales and earnings for the six months ended December 31, 1992.
 Net sales for the six months ended December 31 were $376.1 million, a 6 percent decline from last year's volume of $399.7 million. Net income was $10.7 million, down from $18.8 million reported a year earlier. Earnings per share were $.24 versus $.42 cents for last year.
 Previously reported amounts have been restated to include the results of Wicat Systems, Inc., which was acquired in August 1992 and accounted for as a pooling of interests. The results reported for the first six months of the current year are comparable to the forecast of first-half performance released December 17, 1992.
 H. William Lurton, chairman and chief executive officer, said, "I am disappointed that Jostens first-half sales and earnings are below last year's level. However, as I reported in December, I am convinced that the consolidation strategies which negatively affected our performance in the first half, are appropriate and will lower our long-term costs and strengthen our competitive positions."
 He added, "Our class ring order entry rates continue to be on plan and our sportswear area continues to expect double-digit sales growth and a return to profitability for the year. We anticipate a strong second-half performance by Jostens Learning, and expect improvement in sales and earnings as we move into the third and fourth quarters of the fiscal year."
 Jostens, Inc. is a leading provider of products and services for the youth, education, sportswear and recognition markets. The Fortune 500 company is listed on the New York Stock Exchange under the symbol "JOS" and last year reported sales of $924 million.
 JOSTENS, INC. AND SUBSIDIARIES
 STATEMENTS OF CONSOLIDATED INCOME
 (In Thousands, Except Per Share Data)
 (Unaudited)
 Six Months Ended December 31,
 1992 1991
 NET SALES $376,13 $399,691
 Operating Expenses 354,367 365,316
 INCOME BEFORE INTEREST AND TAXES 21,764 34,375
 Interest Expense 3,647 4,822
 Income Before Taxes 18,117 29,553
 Income Taxes 7,386 10,798
 NET INCOME $10,731 $18,755
 EARNINGS PER SHARE $.24 $.42
 Average Shares Outstanding 45,263 44,830
 Three Months Ended December 31,
 1992 1991
 NET SALES $222,188 $246,759
 Operating Expenses 204,548 219,437
 INCOME BEFORE INTEREST AND TAXES 17,640 27,322
 Interest Expense 1,973 2,372
 Income Before Taxes 15,667 24,950
 Income Taxes 5,786 9?,067
 NET INCOME $9,881 $15,883
 EARNINGS PER SHARE $.22 $.36
 Average Shares Outstanding 45,290 44,859
 /NOTE: Amounts have been restated to reflect the August 1992 merger with Wicat Systems, Inc. which was accounted for as a pooling of interests.
 -0- 1/18/93
 /CONTACT: Robb Prince of Jostens, Inc., 612-830-3262/
 (JOS)


CO: Jostens, Inc. ST: Minnesota IN: SU: ERN

DS -- MN011 -- 6034 01/18/93 17:40 EST
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Date:Jan 18, 1993
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