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MONTANA POWER REPORTS EARNINGS

 MONTANA POWER REPORTS EARNINGS
 BUTTE, Mont., Jan. 28 /PRNewswire/ -- The Montana Power Co.


(NYSE: MTP) today reported 1991 net income of $2.03 per share, a 10-percent increase over 1990 earnings of $1.84 per share.
 Fourth-quarter net income was 74 cents per share, compared with 78 cents per share recorded during the same period in 1990.
 Utility Operations net income improved during 1991 because of higher electric rates authorized by the Public Service Commission in August 1990 and July 1991, and due to increased sales of electricity to general business customers and other utilities.
 Net income from Entech Operations decreased compared to the same quarter last year principally because of lower Oil Division earnings. For the year, Entech earnings were higher as a result of increased Coal Division earnings, receipt of income from its Brazilian subsidiary and the non-recurring sale of non-fuel mineral rights in Montana.
 The Independent Power Group increased net income during both periods due to higher earnings from long-term power sales.
 THE MONTANA POWER CO.
 (In thousands, except per-share data)
 Quarter Year
 Ended Dec. 31: 1991 1990 1991 1990
 Consolidated revenues $269,039 $251,675 $938,934 $841,921
 Net income $ 38,490 $ 39,965 $105,715 $ 94,980
 Net income available for
 common $ 37,542 $ 39,017 $101,925 $ 91,190
 Average shares outstanding 50,591 49,904 50,317 49,657
 Net income per share $ 0.74 $ 0.78 $ 2.03 $ 1.84
 CONSOLIDATED NET INCOME PER SHARE BY BUSINESS SEGMENTS
 Fourth Quarter Twelve Months
 1991 1990 1991 1990
 Utility Operations $ 0.48 $ 0.47 $ 0.98 $ 0.89
 Entech 0.25 0.32 0.98 0.94
 Independent Power Group 0.01 (0.01) 0.07 0.01
 Consolidated $ 0.74 $ 0.78 $ 2.03 $ 1.84
 -0- 1/28/92
 /CONTACT: Russ Cox of The Montana Power Co., 406-496-5040/
 (MTP) CO: The Montana Power Co. ST: Montana IN: UTI SU: ERN


SC-JH -- SE014 -- 4453 01/28/92 17:30 EST
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Date:Jan 28, 1992
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