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LSI ANNOUNCES SALE OF U.K. OPERATIONS

 LSI ANNOUNCES SALE OF U.K. OPERATIONS
 CINCINNATI, July 1 /PRNewswire/ -- Robert J. Ready, chairman and


CEO of LSI Industries, Inc. (NASDAQ: LYTS), announced today that the company's board of directors has agreed in principle to sell the assets and operations of its U.K. subsidiary, Duramark Ltd., to its management. The transaction, which is subject to certain contingencies, is expected to close by Aug. 1.
 LSI has invested $7.0 million in Duramark, and over the past three years has reported net losses of approximately $4.5 million related to the U.K. operations. Losses related to the sale, to be recorded in LSI's fourth quarter ending June 30, 1992, are estimted to be $2.6 million, or $.55 per share. These losses include the write-off of goodwill related to Duramark, and the establishment of reserves related to LSI guarantees of leases and loans in the U.K. The losses are net of anticipated tax benefits, including a refund of $1.4 million as a result of deducting prior losses of $4.0 million not previously tax-effected. These amounts are estimates and are subject to audit.
 Although the Duramark investment has been a drain on LSI's resources over the past two years, the company still has a very strong balance sheet and has maintained or improved its market position in each of its U.S. lighting and graphic markets. The domestic operations have been profitable overall during this difficult two-year period. The company is encouraged by the recent indicators of the beginning of a recovery in the U.S. economy. By refocusing its efforts on programs to expand its U.S. markets and products while controlling its costs, the company remains confident in its ability to grow and prosper.
 LSI designs, engineers, manufactures and markets a wide range of high-quality lighting fixtures and graphic products. The company serves three markets - the petroleum/convenience store market; the multi-site retail market (including fast-food restaurants and auto dealerships); and the commercial/industrial lighting market. The company's common shares are traded on the NASDAQ National Market System under the symbol LYTS.
 LSI INDUSTRIES, INC.
 Supplementary Schedule
 Unaudited, pro forma sales and income, reflecting the reclassification of Duramark as a discontinued operation, are summarized as follows:
 Nine Months Ended
 March 92 March 91
 (In thousands, except per share amounts)
 As reported:
 Net Sales $57,743 $60,839
 Net (loss) Income (1,447) (944)
 Net (loss) Income Per Share ($.31) ($.20)
 Pro forma restatement showing continuing operations only:
 Net sales $51,972 $52,709
 Net income (loss) 378(A) (115)
 Net income (loss) per share $.08(A) ($.02)
 Fiscal Year Ended
 June 91 June 90
 (In thousands, except per share amounts)
 Net Sales $79,546 $83,709
 Net (loss) income (1,094) 1,396
 Net (loss) Income Per Share ($.23) $.29
 Pro forma restatement showing continuing operations only:
 Net sales $68,782 $79,911
 Net income (loss) (99) 3,056
 Net income (loss) per share ($.02) $.65
 (A) -- Note: FY 92 income from continuing operations is net of domestic restructuring costs of $442,000, or $.09 per share.
 -0- 7/1/92
 /CONTACT: Bob Ready or Jim Cox, both of LSI Industries Inc., 513-793-3200/
 (LYTS) CO: LSI Lighting Systems Inc. ST: Ohio IN: REA SU: ERN


KK -- CL010 -- 5537 07/01/92 09:33 EDT
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Date:Jul 1, 1992
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