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LG&E ENERGY CORP. CONTINUES STRONG EARNINGS PERFORMANCE

 LOUISVILLE, Ky., July 27 /PRNewswire/ -- By balancing strong utility and non-utility business performance, LG&E Energy Corp. (NYSE: LGE) continued to show strong earnings through the second quarter, posting $17.6 million in second quarter 1993 earnings. For the comparable period in 1992, earnings were $17.1 million.
 Second quarter earnings per share of common stock were 54 cents, exceeding the 53 cents in earnings per share one year ago, which had included a one-time gain from the closing of project financing for a cogeneration plant in upstate New York. Excluding the one-time gain, earnings from continuing operations rose 20 percent. Revenues for the three months ended June 30, 1993, rose to $200.4 million, a 6 percent increase over the same period in 1992.
 Net income for the six months ended June 30, 1993, was $37.7 million, a 24 percent increase from the $30.3 million for the first six months of 1992. Earnings per share for the six-month period were $1.16, up from 94 cents last year. Revenues for the first two quarters were $438.8 million, compared with $394.3 million for the same period last year, an 11 percent increase.
 Increased electric sales, resulting from a return to more normal weather in the company's service territory, combined with rigorous cost controls, enabled Louisville Gas and Electric Company to contribute $1.05 in consolidated earnings per share during the first six months of this year, compared with 84 cents for the same period one year ago.
 The company's non-utility businesses contributed 19 cents to consolidated earnings per share for the first six months of 1993, a 19 percent increase over the 16 cents per share for the same period last year. This increase is attributable to higher profits from LG&E Power Systems' construction projects and improved margins from Natural Gas Clearinghouse's (NGC) marketing business. Year to date earnings also reflect a full six months of NGC results. LG&E Energy Corp. purchased an ownership interest in NGC in May 1992.
 "As this strong earnings performance attests, our strategy is gaining momentum," said Roger W. Hale, Chairman and Chief Executive Officer. "We hope to continue to drive our growth by closely managing our costs and anticipating and responding to industry changes."
 LG&E Energy Corp. and Subsidiaries
 Statements of Income
 (Thousands of $ Except Per Share Data)
 Three Months Ended Six Months Ended Twelve Months Ended
 June 30, June 30, June 30,
 1993 1992 1993 1992 1993 1992
 REVENUES
 Electric $137,254 $126,381 $262,279 $243,811 $544,611 $530,946
 Gas 29,730 25,497 114,511 91,820 201,217 163,379
 Non-utility 33,384 37,571 61,974 58,678 133,366 58,678
 Total
 revenues 200,368 189,449 438,764 394,309 879,194 753,003
 EXPENSES
 Fuel and power
 purchased 39,770 34,544 77,643 68,481 156,841 142,564
 Gas supply 19,487 15,197 76,849 56,984 135,386 102,250
 Operation and
 maintenance 46,226 43,050 90,787 89,783 180,759 180,227
 Depreciation and
 amor-
 tization 19,890 19,884 39,996 39,607 80,075 77,678
 Other taxes 3,951 3,862 8,415 8,371 16,140 15,820
 Non-utility
 expenses 33,916 33,629 64,493 56,605 137,587 60,051
 Total
 expenses 163,240 150,166 358,183 319,831 706,788 578,590
 Equity in Earnings of Partnership
 and Joint
 Ventures(A) 6,081 3,018 10,193 4,013 21,974 4,013
 Operating
 Income 43,209 42,301 90,774 78,491 194,380 178,426
 Other Income
 and
 (Deductions) (753) (910) (1,190) (713) (1,217) 967
 Interest
 Charges 12,173 12,242 24,798 24,628 51,336 50,538
 Income before
 Income
 Taxes 330,283 29,149 64,786 53,150 141,827 128,855
 Income Taxes 11,007 10,413 23,826 18,853 52,377 45,860
 Income before
 Preferred
 Dividends 19,276 18,736 40,960 34,297 89,450 82,995
 Preferred
 Dividends 1,668 1,625 3,255 4,030 6,398 8,762
 Net
 Income $ 17,608 $ 17,111 $ 37,705 $ 30,267 $ 83,052 $ 74,233
 Average common
 shares
 outstanding 32,619 32,306 32,532 32,296 32,424 32,286
 Earnings
 per share $ 0.54 $ 0.53 $ 1.16 $ 0.94 $ 2.56 $ 2.30
 (A) Includes pretax earnings contributions from Natural Gas Clearinghouse partnership and LG&E ventures.
 -O- 7/27/93
 /CONTACT: Paul Heagen, LG&E, 502-627-2877, office or 502-228-9763, home/
 (LGE)


CO: LG&E Energy Corp. ST: Kentucky SU: UTI IN: ERN

CM -- CH004 -- 6176 07/27/93 11:21 EDT
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