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NATIONAL HERITAGE REPORTS THIRD QUARTER PROFIT

 NATIONAL HERITAGE REPORTS THIRD QUARTER PROFIT
 DALLAS, May 8 /PRNewswire/ -- National Heritage, Inc. (NYSE: NHR),


today announced net earnings and revenues for the third quarter of fiscal 1992 ended March 31, 1992.
 Net income for the quarter was $28,000 compared to $9,000 for the same period in fiscal 1991. For the nine months ended March 31, 1992, National Heritage net income was $75,000 compared to $91,000 or $.01 per share in the prior year.
 Revenues for the third quarter increased to $13.3 million compared with revenues of $11.2 million in the same quarter of last year. Revenues for the first nine months of fiscal 1992 were $38.9 million, as compared to $39 million for the same period in fiscal 1991.
 Revenues increased in the third quarter of fiscal 1992 as a result of Medicaid rate increases and the additions of a new nursing home in October 1991 and three leased facilities in February 1992. Reduced management fees for the first nine months of fiscal 1992 were a result of termination or modification of various management agreements. In response to the decrease in management revenues, the company reduced its personnel and office administration costs, resulting in a 6 percent decrease in general and administrative expense for the third quarter of 1992.
 Chairman, President and CEO Robert M. Galecke said, "We believe the steps we are taking to improve the company's overall operations have resulted in several promising developments during the first three quarters of fiscal 1992. These include the addition of four nursing homes in the last two quarters, the company's reduction of its general and administrative expenses, and the implementation of programs and strategies to increase Medicare and Medicaid revenues in the future.
 "The addition of a new director of patient services has strengthened the quality assurance program in our facilities to ensure that the highest quality of life and care is provided to our residents. Our dietary services director has enhanced the quality of food service to our residents through the development of special dietary programs."
 Galecke added, "We will continue our commitment to improve revenues by increasing facility occupancy and revenues through Medicare certification of several additional facilities and the opening of Alzheimer's units in two nursing homes. As always, we are continuing to pursue opportunities for additional management contracts and leasing agreements."
 National Heritage, Inc., headquartered in Dallas, is a leading manager and operator of long term care facilities for the elderly.
 NATIONAL HERITAGE, INC.
 Financial Highlights
 (Unaudited)
 (Dollars in thousands, except per share amounts)
 Periods ended Three Months Nine Months
 March 31 1992 1991 1992 1991
 Revenues $13,332 $11,236 $38,890 $39,023
 Earns. bef. inc. taxes 28 34 108 71
 Inc. tax exp. (benefit) -- 25 33 (20)
 Net earnings $ 28 $ 9 $ 75 $ 91
 Earnings per share of
 common stock -- -- -- $0.01
 Weighted average shares
 outstanding 16,890 16,890 16,890 16,890
 -0- 5/8/92
 /CONTACT: Vicki Bolton of National Heritage, 214-233-3900/
 (NHR) CO: National Heritage, Inc. ST: Texas IN: HEA SU: ERN


GK -- NY037 -- 8059 05/08/92 11:38 EDT
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Publication:PR Newswire
Date:May 8, 1992
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