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MERCER INTERNATIONAL SIX MONTHS NET INCOME UP 36 PERCENT

 MERCER INTERNATIONAL SIX MONTHS NET INCOME UP 36 PERCENT
 VANCOUVER, British Columbia, Aug. 11 /PRNewswire/ -- Mercer International (NASDAQ-NMS: MERCS) today announced that revenues for the six months ended June 30, 1992 increased to $34.9 million compared to the restated revenues of $22.0 million last year. Net income for the same period was $4.1 million, or $0.38 per share, compared to $3.3 million, or $0.28 per share, a year earlier -- reflecting a 36 percent share increase.
 Revenues for second quarter ended June 30, 1992 were $17.6 million vs. restated revenues of $19.4 million a year ago. Net income was $2.4 million, or $0.22 per share, compared to $1.9 million, or $0.17 per share, for the comparable period last year -- reflecting a 29 percent rise in per share earnings.
 The company also announced its intention to periodically purchase over a one-year period a maximum of 550,000 shares of its outstanding common stock. All purchases will be on the open market in accordance with NASDAQ rules and requirements.
 Mercer further stated its intention to periodically purchase shares through private and open market purchases of an affiliate, International & Environmental Services Ltd., which is traded on the Toronto Stock Exchange.
 Commenting on the announcement, William H.W. Atkinson, vice chairman of Mercer, said, "Our improvement in earnings reflects Mercer's continuing efforts to better utilize and streamline the company's operating entities. Our recent acquisitions are contributing solidly to our longer-term growth strategies, both in North America and Europe."
 Atkinson stressed Mercer's commitment to building shareholder value, noting that "management views the common stock buy back program as a worthwhile investment and an appropriate use of available corporate funds." He added that all purchases will be funded out of available cash flow from operations.
 With regard to Mercer's European operations, Atkinson said, "The company has retained Industra Services Inc., formerly NFK - Celpap Ltd., a leading North American consulting firm, for studies in the environmental and waste recycling industries. With the changes to the German environmental laws pertaining to the recycling of paper and other materials, the increased demand for recycling facilities is immense. We view these opportunities positively in terms of our overall plans to become a significant participant in the environmental services industry in eastern Germany. Our early commitment to being involved in the rebuilding of the country will pay excellent dividends over the long term."
 Mercer International Inc., a North American-based company, is utilizing its asset base to expand its service-oriented focus into long-term, high-growth areas, with particular emphasis on the international environmental services industry. The company has total assets of more than $162 million, with annual revenues of more than $70 million and earnings of $8.5 million in fiscal 1991.
 MERCER INTERNATIONAL INC.
 Statement of Income
 (Unaudited)
 Six months ended June 30 1992 1991
 Revenues (millions) $34.9 $22.0
 Net income (millions) 4.1 3.3
 Earnings per share $0.38 $0.28
 Average number of shares
 outstanding (000) 11,018 11,615
 Three months ended June 30 1992 1991
 Revenues (millions) $17.6 $19.4
 Net income (millions) 2.4 1.9
 Earnings per share $0.22 $0.17
 Average number of shares
 outstanding (000) 11,018 11,615
 -0- 8/11/92
 /EDITOR'S NOTE: In light of Mercer International's European operations and business interests overseas, review the following release for possible coverage on your international newswire. The company's operations near Dresden, Germany, and Rostock, on the Baltic Sea, are focused on the environmental cleaning needs of the region. The company is also exploring environmental cleaning opportunities in other regions in eastern Germany, as well as possible recycling projects./
 /CONTACT: William H.W. Atkinson, vice chairman of Mercer International, 604-683-8286; or Gary S. Maier of Erickson Consulting Group, 310-829-4601, for Mercer International/
 (MERCS) CO: Mercer International Inc. ST: British Columbia IN: SU: ERN


LS-KJ -- LA008 -- 8775 08/11/92 07:00 EDT
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Date:Aug 11, 1992
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