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NEW ENGLAND ELECTRIC REPORTS EIGHT-MONTH EARNINGS

 NEW ENGLAND ELECTRIC REPORTS EIGHT-MONTH EARNINGS
 WESTBOROUGH, Mass., Sept. 21 /PRNewswire/ -- New England Electric


System (NEES) (NYSE: NES) today reported earnings for the first eight months of 1992 of $1.98 per share. This compares to $1.94 earned in the corresponding period last year.
 NEES earnings for the 12 months ended Aug. 31, 1992, were $2.81 per average share. This compares to $4.47 per average share earned for the same period last year on fewer average shares. Last year's amount included $1.78 per share due to the reversal in the third quarter of 1990 of a portion of a 1988 write-down resulting from a rate settlement involving the Seabrook 1 nuclear unit.
 NEW ENGLAND ELECTRIC SYSTEM AND SUBSIDIARIES (CONSOLIDATED)
 Eight Months Ended Aug., 31,
 1992 1991
 Operating revenue $1,426,583,000 $1,405,069,000
 Net income $128,849,000 125,831,000
 Average common shares 64,969,652 64,890,072
 Net income per average
 share $1.98 $1.94
 Twelve Months Ended Aug., 31
 1992 1991
 Operating revenue $2,115,891,000 $2,062,722,000
 Net income $182,828,000 $289,240,000
 Average common shares 64,969,652 64,682,449
 Net income per
 average share $2.81 $4.47
 -0- 9/21/92
 /CONTACT: Robert G. Seega of New England Electric, 508-366-9011 (days), or 508-949-1796 (evenings)/
 (NES) CO: New England Electric System ST: Massachusetts IN: UTI SU: ERN


TM -- NE023 -- 1792 09/21/92 15:13 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
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