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KATY INDUSTRIES, INC. REPORTS LOSS FOR FORTH QUARTER 1992

 ELGIN, Ill., March 4 /PRNewswire/ -- Jacob Saliba, chairman of Katy Industries, Inc. (NYSE: KT) today reported a net loss of $1,588,000, or $.18 per share, for the three months ended Dec. 31, 1992. For the fourth quarter of 1991, the company reported a loss before extraordinary items of $1,629,000, or $.18 per share, and a net loss of $1,312,000, or $.15 per share, after an extraordinary gain of $317,000, or $.03 per share.
 The company reported net income for the year ended Dec. 31, 1992, of $1,102,000, or $.12 per share. For the year 1991, the company reported income before extraordinary items of $7,718,000, or $.82 per share, and net income of $11,090,000, or $1.18 per share, after extraordinary income of $3,372,000, or $.36 per share, principally from proceeds of an insurance settlement of an unconsolidated subsidiary. The company's results for the fourth quarter and the year ended Dec. 31, 1992, did not include any extraordinary items.
 Sales were $42,190,000 and $177,077,000, respectively, for the fourth quarter and year ended Dec. 31, 1992, compared to $47,116,000 and $181,494,000 for the same periods of 1991.
 Saliba commented that the fourth quarter and year ended Dec. 31, 1992, continued to be impacted by the turmoil in the Commonwealth of Independent States which severely affected Katy's 75 percent owned German subsidiary, Schon & Cie AG. As a result, this subsidiary reported losses after adjustment for minority interest for the year of $8,012,000 and for the quarter of $3,756,000, respectively, in 1992 compared to losses of $1,807,000 and $1,473,000 for the same periods in 1991. Saliba noted that Schon & Cie has been downsized and that the 1992 results reflect the costs of such downsizing.
 Saliba noted that the tax provision increased to $3,382,000 in 1992 from $601,000 in 1991 primarily due to the fact that all of the tax benefits available from Schon & Cie's losses were fully recognized in 1991.
 Saliba further noted that the 1991 results include the net gain on the sale of Union Pacific Corp. common stock of $765,000, or $.08 per share, for the fourth quarter of 1991 and $7,210,000, or $.77 per share, for the year ended Dec. 31, 1991. There were no comparable sales of Union Pacific stock by Katy during 1992.
 Saliba also announced that the directors have declared a regular quarterly dividend of 6-1/4 cents per share on the common stock, payable April 20, 1993, to shareholders of record at the close of business on March 31, 1993.
 Saliba also announced that the special committee of the board, previously established to consider a September 1992 merger offer by members of the Wallace Carroll family, has been reinstated to review any new proposals that might be made.
 Katy Industries, Inc. is a major diversified corporation with interests in industrial machinery, industrial components, consumer products.
 KATY INDUSTRIES, INC.
 (Thousands of dollars, except per share amounts)
 Periods ended Twelve Months Quarter
 Dec. 31 1992 1991 1992 1991
 Sales 177,077 181,494 42,190 47,116
 Income from
 operations 1,102(A) 7,718(A,B,C)(1,588)(B) (1,629)(A,B,C)
 Extraordinary
 income -- 3,718(D) -- 317(D)
 Net income 1,102 11,090 $ (1,588) $ (1,312)
 EARNINGS PER COMMON SHARE:
 Income from
 operations $.12(B) $.82(A,B,C) $(.18)(B) $(.18)(A,B,C)
 Extraordinary
 income -- .36(D) -- .03(D)
 Net income $.12 $1.18 $(.18) $(.15)
 Average shares
 outstanding
 9,018,758 9,381,383 9,017,387 9,023,187
 Financial Notes
 (A) Includes net gain on sale of Union Pacific common stock for the three months and twelve months ended Dec. 31, 1991, of $765,210,000 or $.08 and $.77 per share, respectively.
 (B) Includes provision, net of income taxes, for notes receivable $3,338,000 and $1,811,000, or $.37 and $.20 per share, and $2,396,000 and $2,480,000 or $.27 and $.26 per share, for the three months and twelve months ended Dec. 31, 1992, and 1991, respectively.
 (C) Includes net charges of $1,003,000, or $.11 per share, resulting from the settlement of pending litigation relating to Katy's waste-to- energy facility in Davis County, Utah, which was simultaneously transferred to Davis County.
 (D) Equity in insurance settlement reported as extraordinary income by an unconsolidated subsidiary.
 Figures in parentheses are losses.
 -0- 3/4/93
 /CONTACT: Jacob Saliba, chairman and CEO, 617-266-4100, or J. Russell Jones, vice president and chief financial officer, 312-379-1121, both of Katy/
 (KT)


CO: Katy Industries, Inc. ST: Illinois IN: MAC SU: ERN

SM -- NY051 -- 2946 03/04/93 11:37 EST
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Date:Mar 4, 1993
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