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MARGO NURSERY FARMS, INC. ANNOUNCES

 MIAMI, Nov. 24 ~PRNewswire~ -- Margo Nursery Farms, Inc. (OTC) and its subsidiaries (the company), today announced their financial position and results of operations as of and for the third quarter ended Sept. 30, 1992.
 The company's consolidated net sales for the three months ended Sept. 30, 1992 were $567,000 compared to $570,000 for the same period last year. The company's consolidated net sales for the nine months ended Sept. 30, 1992 were $1,232,000 which represents a 29 percent decrease in net sales from $1,737,000 for the same period in the prior year.
 The company had net income of $15,725,000, or $9.33 earnings per common share, for the nine months ended Sept. 30, 1992. These nine month results include an extraordinary gain of $18,632,000, or $11.06 per share, representing settlement of claims from litigation. Net income for the third quarter alone was $15,571,000 which amounts to earnings of $9.24 per share.
 During the third quarter of 1992, Margo incurred net losses amounting to $1,700,000 resulting from damage caused by Hurricane Andrew.
 The company incurred a net loss of $2,795,000, or $1.66 loss per share, for the same nine month period in 1991. For the third quarter of 1991 alone, the company lost $111,000, or $.06 loss per share. The 1991 losses were primarily attributed to problems caused by Benlate, a defective fungicide manufactured by E.I. duPont de Nemours & Company.
 MARGO NURSERY FARMS, INC. AND SUBSIDIARIES
 SUMMARY OF CONSOLIDATED FINANCIAL RESULTS
 Three months Nine months
 ended Sept. 30, ended Sept. 30,
 1992 1991 1992 1991
 Net sales $ 567,000 $ 570,000 $ 1,232,000 $1,737,000
 Gross profits 327,000 284,000 510,000 477,000
 Loss before
 extraordinary
 item (2,030,000) (473,000) (2,907,000) (1,600,000)
 Extraordinary
 gain (loss) 17,601,000 363,000 18,632,000 (1,195,000)
 Net earnings
 (loss) $15,571,000 ($ 111,000) $15,725,000 ($2,795,000)
 Loss per share
 before
 extraordinary
 item ($ 1.20) ($ .28) ($ 1.73) ($ .95)
 Extraordinary
 gain (loss)
 per share 10.44 .22 11.06 (.71)
 Net income
 (loss) per
 share $ 9.24 ($ .06) $ 9.33 ($ 1.66)
 Weighted
 average
 number of
 shares
 outstanding 1,685,200 1,685,200 1,685,200 1,685,200
 At Sept. 30, At Dec. 31,
 1992 1991
 Current assets $19,722,000 $ 1,523,000
 Total assets 23,071,000 6,930,000
 Current liabilities 5,918,000 5,520,000
 Total liabilities 10,721,000 10,259,000
 Shareholders equity (deficit) 12,350,000 (3,329,000)
 -0- 11~24~92
 ~CONTACT: Michael J. Spector or James F. Brenner of Margo Nursery Farms, 305-663-5600~


CO: Margo Nursery Farms, Inc. ST: Florida IN: SU: ERN

JB-AW -- FL010 -- 1116 11~24~92 13:53 EST
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Date:Nov 24, 1992
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