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KCS ENERGY REPORTS SECOND QUARTER NET OF 18 CENTS PER SHARE

 KCS ENERGY REPORTS SECOND QUARTER NET OF 18 CENTS PER SHARE
 EDISON, N.J., May 4 /PRNewswire/ -- KCS Energy, Inc. (NASDAQ: KCSE), today reported net income of $487,000, or 18 cents per share, for its second quarter ended March 31, 1992, compared to $673,000, or 25 cents per share, for the same quarter in fiscal 1991. Sales increased 12 percent to a record $31.2 million compared with $27.9 million in the 1991 fiscal quarter.
 For six months ended March 31, 1992, KCS Energy reported net income of $1,098,000, or 41 cents per share, compared with $1,205,000, or 45 cents per share, a year ago. Sales were a record $73.2 million compared with $51.6 million in the 1991 period.
 Commenting on the results, James W. Christmas, KCS president and chief executive officer, said: "Although we are not completely satisfied with the quarter's results, we are pleased to note that, despite record low natural gas prices and the warmest winter on record, our operating earnings were up slightly over the comparable quarter and six month periods, excluding costs of litigation. And, importantly, our operating cash flow was up 20 percent."
 Christmas said that in addition to gas industry pricing pressures and the weather, another major factor affecting the financial performance of KCS was the impact of legal and other costs associated with the company's ongoing litigation involving a long term, above market gas sales contract with Tennessee Gas Pipeline Company.
 "With regard to the Tennessee Gas Pipeline situation," Christmas said, "we are strongly committed to supporting our position in this litigation. We continue to believe our position is strong and that we should prevail, but recognize there can be no assurance as to the ultimate outcome." Pre-trial discovery is ongoing and the trial is scheduled for June 1992.
 KCS is engaged in oil and gas exploration and production, natural gas transportation, natural gas marketing and energy services with operations in Texas, Louisiana, Mississippi, New York, New Jersey, Virginia and Pennsylvania.
 KCS ENERGY, INC.
 Quarter ended March 31 1992 1991
 Operating revenues $31,208,000 $27,901,000
 Operating income 820,000 1,070,000
 Interest and other income 209,000 157,000
 Interest expense (322,000) (250,000)
 Income before income taxes 707,000 977,000
 Federal and state income taxes 220,000 304,000
 Net income $ 487,000 $ 673,000
 Net income per share $.18 $.25
 Weighted average no. of common
 shares outstanding 2,681,166 2,653,707
 Six months ended March 31 1992 1991
 Operating revenues $73,158,000 $51,570,000
 Operating income 1,895,000 1,983,000
 Interest and other income 354,000 296,000
 Interest expense (650,000) (520,000)
 Income before income taxes 1,599,000 1,759,000
 Federal and state income taxes 501,000 554,000
 Net income $ 1,098,000 $ 1,205,000
 Net income per share $.41 $.45
 Weighted average no. of common
 shares outstanding 2,674,043 2,651,475
 -0- 5/4/92
 /CONTACT: Henry A. Jurand of KCS, 908-632-1770; or Michael Bourke of Gavin Anderson & Co., 212-921-1060, for KCS/
 (KCSE) CO: KCS Energy, Inc. ST: New Jersey IN: OIL SU: ERN


GK-AH -- NY072 -- 6086 05/04/92 13:26 EDT
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Date:May 4, 1992
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