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MONTANA POWER REPORTS EARNINGS

 BUTTE, Mont., Jan. 26 /PRNewswire/ -- Montana Power Co. (NYSE: MTP) reported net income for the 12 months ended Dec. 31, 1992, of $2.02 per share, a decrease of 1 cent from the same period last year. Fourth- quarter net income increased 11 cents per share from the same period in 1991.
 Consolidated net income for both periods benefited from higher earnings from Entech's Oil Division, lower interest expense and earnings from a successful development of a cogeneration project. Higher natural gas sales resulting from colder weather during the fourth quarter partially offset the adverse effect of warm weather experienced in the region during the first half of 1992.
 Higher power supply costs, the result of reduced hydro-cogeneration caused by low streamflows, and losses incurred at a coal mine acquired in June 1991 adversely impacted consolidated net income during all periods.
 MONTANA POWER CO.
 (In thousands, except per-share amounts)
 Quarter Ended Dec. 31: 1992 1991
 Consolidated revenues $296,062 $269,039
 Net income $ 44,768 $ 38,490
 Net income available for common $ 43,820 $ 37,542
 Average shares outstanding 51,461 50,591
 Net income per share $ 0.85 $ 0.74
 Twelve Months Ended Dec. 31: 1992 1991
 Consolidated revenues $997,426 $938,934
 Net income $107,065 $105,715
 Net income available for common $103,275 $101,925
 Average shares outstanding 51,126 50,317
 Net income per share $ 2.02 $ 2.03
 CONSOLIDATED NET INCOME PER SHARE BY BUSINESS SEGMENTS
 Quarter Twelve Months
 Ended Dec. 31: 1992 1991 1992 1991
 Utility operations $ 0.54 $ 0.48 $ 0.97 $ 0.98
 Entech Inc. 0.27 0.25 0.98 0.98
 Independent Power Group 0.04 0.01 0.07 0.07
 Consolidated $ 0.85 $ 0.74 $ 2.02 $ 2.03
 -0- 1/26/93
 /CONTACT: Russ Cox of Montana Power, 406-496-5040/
 (MTP)


CO: Montana Power Co. ST: Montana IN: UTI SU: ERN

SW-LM -- SE019 -- 9334 01/26/93 18:10 EST
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Date:Jan 26, 1993
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