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MAPCO ANNOUNCES CHARGES AFFECTING 1992 EARNINGS

 TULSA, Okla., Jan. 22 /PRNewswire/ -- MAPCO, Inc. (NYSE: MDA) today announced that several recent events will result in establishment of reserves affecting earnings in the fourth quarter, 1992.
 MAPCO said that a recent settlement of claims related to an explosion at a pipeline subsidiary's facility will result in an insurance premium penalty adjustment, fully charged to 1992 earnings but to be paid over a seven year period, of $.36 per share.
 As a result of the Energy Policy Act enacted in late 1992, which legislated lifetime retirees medical benefits for certain coal miners, MAPCO has opted to accelerate adoption of FASB 106 and is recording the total estimated obligation related to an idled coal mine purchased by a MAPCO subsidiary in 1989. This will result in a charge of $.13 per share.
 Estimated costs associated with a realignment of certain business lines and the anticipated divestiture of non-strategic assets will reduce 1992 earnings by $.12 per share.
 MAPCO also noted that other charges related to various environmental and litigation matters will result in a charge of approximately $.08 per share.
 MAPCO also noted that year-end statements will consolidate the results of MAPCO Gas Products and MAPCO Transportation into the recently created subsidiary, MAPCO Natural Gas Liquids, Inc. According to James E. Barnes, MAPCO chairman and chief executive officer, "the new subsidiary was created to encompass all of MAPCO's activities in the growing natural gas liquids industry, which represent a major portion of the company's earnings stream and an area identified for future growth and expansion."
 MAPCO is a diverse energy company whose principal businesses are conducted by three operating subsidiaries: MAPCO Coal produces and markets bituminous steam and metallurgical coal; MAPCO Natural Gas Liquids operates natural gas liquids and ammonia pipelines, fractionation and storage facilities and produces and markets natural gas liquids and fertilizers; and MAPCO Petroleum operates refineries and retail marketing networks through the Mid-South and Alaska systems.
 -0- 1/22/93
 /CONTACT: David S. Leslie, senior vice president-corporate affairs, 918-599-3655, or home, 918-747-0500, or Terri A. Wilson, manager- corporate affairs, 918-599-3608, or home, 918-742-3535, both of MAPCO/
 (MDA)


CO: MAPCO Inc. ST: Oklahoma IN: OIL SU:

TM -- NY076 -- 8128 01/22/93 18:02 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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