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LESLIE'S POOLMART OFFERS SYNOPSIS OF REMARKS AT CRUTTENDEN SOUTHERN CALIFORNIA GROWTH STOCK CONFERENCE

 NEWPORT BEACH, Calif., Feb. 17 /PRNewswire/ -- The following is a summary of a presentation by Chatsworth, Calif.-based Leslie's Poolmart (NASDAQ: LESL) today at Cruttenden Southern California Growth Stock Conference:
 Since its founding in 1963, Leslie's Poolmart (NASDAQ: LESL) has grown into the worlds's largest swimming pool supplies specialty retailer, offering a comprehensive range of chemicals, equipment, and recreational accessories for residential and commercial pool owners.
 Retail/Catalog Operations
 Leslie's operates 144 full-service retail stores, located in 26 states, with the largest concentrations in California, Texas and New York. In addition, Leslie's consumer mail-order catalog is distributed to select addresses on its proprietary list of more than 3 million households -- 90 percent of the nation's residential in- ground swimming pool owners. The company targets its catalog to pool owners not situated near Leslie's retail stores, which provides useful demographic information for identifying desirable new store locations. As result, during the past four years, Leslie's has successfully expanded its retail network 118 percent. In 1992 Leslie's launched a new catalog which targets more than 50,000 commercial installations not covered by Leslie's residential catalog market, including health clubs, municipal pools, hotels, apartments, condominiums and educational institutions.
 Market Size and Position
 Industry analysts estimate Leslie's primary residential swimming pool products market at more than $3.25 billion annually. Year after year, more than 70 percent of the company's revenues have originated from the sale of non-discretionary equipment and chemicals necessary to swimming pool maintenance. The company's full-service operating strategy consists of: comprehensive merchandise selection; economical pricing; superior technical assistance; quality service; and convenience of locations. Throughout the company's 29-year operating history, it has achieved consecutive increases in revenues and earnings, despite several economic downturns, due to aggressive marketing and the inherent pool maintenance requirements for specialty chemicals and equipment. Due to its size, efficient distribution system and strategic vertical integration in the areas of chemical repackaging and plastics manufacturing, the company believes it is the low-cost retailer of pool supplies.
 Investment Highlights
 -- Record retail sales in 1992.
 -- Sales increased 16.1 percent, net income increased 75 percent during the first nine months of 1992.
 -- Acquired Sandy's Pool Supply in August 1992, a major competitor with 20 retail stores and national mail order operations.
 -- Highly stable product mix based on non-discretionary nature of swimming pool maintenance.
 -- Same store sales (stores opened one year or more) increased 2.5 percent in 1992.
 -- Significant cost advantages due to scale, vertical integration, and efficient distribution strategy.
 -- Successfully launched new commercial swimming pool operation.
 -- Added senior retailing professional as chief operating officer.
 Financial Highlights
 Years Ended 12/31 Nine Months Ended 9/30
 1991 1990 1992 1991
 Sales $82,602,000 $73,673,000 $84,621,000 $72,893,000
 Net income $983,000(a) $35,000 $3,874,000 $2,216,000(a)
 Earnings per
 share $0.19(a) $0.01 $0.67 $0.45(a)
 Weighted
 average shares
 outstanding 5,182,000 3,764,000 5,796,000 4,957,000
 (a) Net income and earnings per share affected by an unusual, non-cash charge of $1,777,000 related to the write-off of deferred loan charges and termination of a non-compete covenant, as well as a larger number of shares outstanding following the company's April 1991 initial public offering.
 -0- 2/17/93
 /CONTACT: Brian McDermott, president and CEO of Leslie's Poolmart, 818-993-4212/
 (LESL)


CO: Leslie's Poolmart ST: California IN: REA SU:

JB-LS -- LA002 -- 7148 02/17/93 08:50 EST
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Date:Feb 17, 1993
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