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LAIDLAW TAKES SPECIAL CHARGE; OPTIMISTIC ABOUT FUTURE

 BURLINGTON, Ontario, July 7 /PRNewswire/ -- Laidlaw Inc. (NYSE: LDW.B) has reported third quarter income before a special and non-recurring charge and an extraordinary item, of $41,349,000, or $0.15 per share, compared with $44,874,000, or $0.16 per share, for the three months ended May 31, 1992.
 A special charge of $120,524,000 ($74,950,000, or $0.27 per share after tax) has been taken to reflect the company's view of the changing nature of the solid waste industry in the United States and the effects of those changes on the company's business. This special charge resulted in net loss for the quarter of $33,601,000, or $0.12 per share, compared with a profit of $38,774,000, or $0.14 per share, after an extraordinary item of $6,100,000 -- $0.02 per share -- in 1992. There was an average of 277.2 million shares outstanding in the quarter for both years.
 Income from operations, before the special charge, was $66,220,000 compared with $72,338,000. Income from Laidlaw's equity in the earnings of associated companies, Attwoods plc and ADT Limited, was $8,800,000 compared with $8,681,000 for the same 1992 period.
 Revenue for the three months was $543,772,000, an increase of five percent over the $517,418,000 reported for the same period one year ago.
 For the nine months ended May 31, 1993, income before the special charge, and an extraordinary item was $118,324,000 compared with $113,610,000. Per share earnings were $0.43 for both periods.
 Net income was $43,374,000, or $0.16 per share, compared with $107,510,000, or $0.41 per share. There was an average of six percent more shares outstanding in the 1993 period.
 Income from operations, before the special charge, declined to $186,150,000 from the $197,801,000 reported last year while equity income increased to $30,800,000 from $25,932,000.
 Revenue increased to $1,525,714,000 from $1,501,221,000.
 The board of directors has declared a quarterly dividend of $0.04 (Canadian) per class A and B common shares and the regular quarterly dividend of $0.25 (Canadian) per class G first preference share. All dividends are payable August 15, 1993 to shareholders registered at the close of business on July 30, 1993. Dividends are converted to U.S. dollars for payment to U.S. shareholders.
 Commenting on the results, Laidlaw's president and CEO, Donald K. Jackson said "The number and quality of acquisitions completed this year attest to our financial strength and strategically position us for the future. We have expanded passenger services into medical transportation, our solid waste management services into Italy and our hazardous waste management capability in the Western United States. We look forward to strengthening results as improving economic conditions are confirmed.
 Laidlaw Inc. serves municipalities and senior governments, industry and commerce through the provision of environmental and passenger transportation services. Laidlaw operates throughout Canada and the United States, in Mexico, Italy, Norway and Belgium.
 LAIDLAW INC.
 Consolidated Statements of Income
 (Unaudited, U.S. $000's omitted except per share amounts)
 Periods ended May 31 Three Months Nine Months
 1993 1992 1993 1992
 Revenue
 Solid waste services $186,354 $199,846 $558,373 $599,873
 Hazardous waste services 138,129 120,708 372,284 336,760
 Passenger services 219,289 196,864 595,057 564,588
 Total revenue 543,772 517,418 1,525,714 1,501,221
 Operating expenses 377,375 344,143 1,039,043 1,002,842
 Selling, general and
 administrative expenses 39,478 37,664 113,137 115,837
 Depreciation and
 amortization 60,699 63,273 187,384 184,741
 Special and non-recurring
 charge 120,524 -- 120,524 --
 Income (loss) from
 operations (54,304) 72,338 65,626 197,801
 Interest expense (26,549) (29,288) (78,287) (94,973)
 Interest, dividend and
 other income 3,215 2,334 9,242 8,120
 Equity in earnings of
 associated companies 8,800 8,681 30,800 25,932
 Income (loss) before income
 taxes (68,838) 54,065 27,381 136,880
 Income taxes 35,237 (9,191) 15,993 (23,270)
 Income (loss) before
 extraordinary item (33,601) 44,874 43,374 113,610
 Extraordinary item -- (6,100) -- (6,100)
 Net income (loss) for
 the period ($33,601) $38,774 $43,374 $107,510
 Earnings (loss) per share
 -Income (loss) before
 extraordinary item ($0.12) $0.16 $0.16 $0.43
 -Extraordinary item -- ($0.02) -- ($0.02)
 -Net income (loss) ($0.12) $0.14 $0.16 $0.41
 ADDITIONAL INFORMATION
 Income from operations
 (before special and
 non-recurring charge)
 Solid waste services $15,615 $20,630 $47,896 $60,206
 Hazardous waste services 13,559 18,528 43,903 45,832
 Passenger services 37,046 33,180 94,351 91,763
 Total $66,220 $72,338 $186,150 $197,801
 Operating Margins
 (before special and
 non-recurring charge)
 Solid waste services 8.4 pct 10.3 pct 8.6 pct 10.0 pct
 Hazardous waste services 9.8 pct 15.3 pct 11.8 pct 13.6 pct
 Passenger services 16.9 pct 16.9 pct 15.9 pct 16.3 pct
 Total 12.2 pct 14.0 pct 12.2 pct 13.2 pct
 Tax rate (before special
 and non-recurring charge) 20.0 pct 17.0 pct 20.0 pct 17.0 pct
 Debt/Equity - May 31/93 0.67:1
 - August 31/92 0.64:1
 -0- 7/7/93
 /CONTACT: Paul Van Damme, vice president controller or Tag Watson, vice president communications, both of Laidlaw Inc., 416-336-1800/
 (LDW)


CO: Laidlaw Inc. ST: Ontario IN: SU: ERN

TM -- NY073 -- 9254 07/07/93 18:30 EDT
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Date:Jul 7, 1993
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