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LSB INDUSTRIES DECLARES DIVIDENDS ON PREFERRED STOCKS AND REPORTS RESULTS FOR THE YEAR ENDED DEC. 31, 1991

 LSB INDUSTRIES DECLARES DIVIDENDS ON PREFERRED STOCKS AND REPORTS
 RESULTS FOR THE YEAR ENDED DEC. 31, 1991
 OKLAHOMA CITY, March 20 /PRNewswire/ -- LSB Industries, Inc. (AMEX: LSB) today announced the following results and dividend:
 Dividend on Preferred Stocks
 LSB Industries, Inc., announced today that its board of directors has declared the regular quarterly dividend, payable April 1, 1992, on its outstanding $2.20 Series 1 convertible exchangeable Class C preferred stock of $.55 a share and 12 percent Series B cumulative convertible preferred stock of $3 a share. The dividends are payable to the preferred shareholders of record as of the close of business on March 31, 1992. The company has issued an outstanding 765,618 shares of its $2.20 Series 1 convertible exchangeable Class C preferred stock and 20,000 shares of its 12 percent Series B cumulative convertible preferred stock.
 The board also declared the annual dividend of 10 percent on the 1,849 shares outstanding of its redeemable non-cumulative, convertible $100 par preferred stock. These dividends are also payable on April 1, 1992, to the shareholders of record as of the close of business on March 31, 1992.
 Results for Calendar Year Ended Dec. 31, 1991
 LSB Industries, Inc. today reported operating results for the year and three months ended Dec. 31, 1991.
 Total revenues for the year ended Dec. 31, 1991, were $234,191,000 compared to $248,226,000 for the same period in 1990.
 Net loss for the year ended Dec. 31, 1991, was $1,147,000 compared to a net loss of $9,121,000 for the same period in 1990. After adjustment for dividends on outstanding preferred stocks of the company, net loss applicable to common stock was $3,090,000 or $.48 per share in 1991 as compared to net loss applicable to common stock of $11,107,000 or $2.02 per share in 1990.
 Total revenues for the three months ended Dec. 31, 1991, were $53,412,000 compared to $54,804,000 for the same period in 1990.
 Net loss for the three months ended Dec. 31, 1991, was $429,000 compared to net loss of $6,717,000 for the same period in 1990. After adjustment for dividends on outstanding preferred stocks of the company, net loss applicable to common stock for the three months ended Dec. 31, 1991, was $910,000 or $.17 per share compared to a net loss of $7,181,000 or $1.31 per share for the same period in 1990.
 Jack E. Golsen stated that overall this year reflected significant improvement from a year ago. The company's financial services business performed better in 1991 than in the prior year reporting net income in each of the 12 months of 1991. Golsen further stated that the loss for the year was a result of low demand in the company's industrial businesses due to decreased demand in the market place driven by the current economic conditions. The company's environmental control, automotive products, and industrial products business segments all turned in lower sales than last year. The chemical business sales were flat in 1991, but the operating income was down due to the interest and depreciation costs of the $19 million plant expansion in 1990. In February 1992 the chemical business acquired Slurry Explosives Corp., which has annual sales of $10 million. Chairman Golsen expects improved results in all the company's businesses in 1992.
 LSB is a diversified company engaged in financial services and a variety of manufacturing, engineering and marketing activities on a worldwide basis. LSB's principal industrial business activities consists of the manufacture and sale of chemical products, commercial air conditioning products and automotive and industrial products. LSB's common stock, debentures and Series 1 preferred stock are listed for trading on the American Stock Exchange.
 LSB INDUSTRIES, INC.
 Financial Highlights
 (Unaudited; in thousands, except per-share amounts)
 Periods ended Year Three Months
 Dec. 31 1991 1990 1991 1990
 Total revenues $234,191 $248,226 $53,412 $54,804
 Operating costs and expenses 235,141 258,501 53,825 61,521
 Loss before
 extraordinary item (1,147) (10,654) (429) (6,717)
 Net loss (1,147) (9,121) (429) (6,717)
 Net loss applicable
 to common stock (3,090) (11,107) (910) (7,181)
 Loss per common share:
 Loss before
 extraordinary item $(0.48) $(2.30) $(0.17) $(1.31)
 Net loss (0.48) (2.02) (0.17) (1.31)
 Average common shares
 outstanding (in thousands) 6,105 5,495 5,422 5,460
 Notes:
 -- Primary earnings per share are based upon the weighted average number of common and dilutive common equivalent shares outstanding during each period after giving appropriate effect to preferred stock dividends.
 -- In 1990, the company's savings bank subsidiary (Equity Bank) recorded provisions for losses on loans and real estate of $5.8 million ($3.2 million in the second quarter and $2.6 million in the fourth quarter).
 -0- 3/20/92
 /CONTACT: Tony M. Shelby, CFO of LSB Industries, 405-235-4546/
 (LSB) CO: LSB Industries Inc. ST: Oklahoma IN: CHM SU: ERN DIV


CK -- NY018 -- 0039 03/20/92 10:54 EST
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Date:Mar 20, 1992
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