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NEW ENGLAND ELECTRIC REPORTS NINE-MONTH EARNINGS

 NEW ENGLAND ELECTRIC REPORTS NINE-MONTH EARNINGS
 WESTBOROUGH, Mass., Oct. 23 /PRNewswire/ -- New England Electric


System (NEES) (NYSE: NES) today reported earnings for the first nine months of 1992 of $2.20 per average share. This compares to $2.12 earned in the corresponding period last year.
 NEES earnings for the 12 months ended Sept. 30, 1992, were $2.85 per average share. This compares to $2.63 per average share earned for the same period last year on fewer average shares.
 NEW ENGLAND ELECTRIC SYSTEM AND SUBSIDIARIES (CONSOLIDATED)
 Periods Ended Sept. 30, 1992
 Quarter 9 Months 12 Months
 Operating revenue $540,929,000 $1,614,899,000 $2,139,266,000
 Net income 48,447,000 143,008,000 185,437,000
 Average common shares 64,969,652 64,969,652 64,969,652
 Net income
 per average share 74 cents $2.20 $2.85
 Periods Ended Sept. 30, 1992
 Quarter 9 Months 12 Months
 Operating revenue $520,801,000 $1,570,011,000 $2,061,331,000
 Net income 44,489,000 137,381,000 170,067,000
 Average common shares 64,969,652 64,898,914 64,761,657
 Net income
 per average share 69 cents $2.12 $2.63
 -0- 10/23/92
 /CONTACT: Robert G. Seega, 508-366-9011 (days) or 508-949-1796 (evenings)/
 (NES) CO: New England Electric System ST: Massachusetts IN: OIL SU: ERN


CH -- NE011 -- 4231 10/23/92 14:15 EDT
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Publication:PR Newswire
Date:Oct 23, 1992
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