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NIRI SURVEY CONFIRMS NEW TRENDS IN CORPORATE QUARTERLY REPORTING

 VIENNA, Va., Nov. 1 /PRNewswire/ -- A survey conducted by the National Investor Relations Institute (NIRI) found a growing number of U.S. corporations are employing non-traditional reporting methods for more timely and cost-effective quarterly communications with shareholders.
 The survey, conducted by the Rivel Research Group, randomly sampled 150 NIRI corporate members in early October and found that 21 percent have discontinued the practice of delivering traditional quarterly reports. An additional 33 percent are considering discontinuing sending quarterly reports. Instead of the traditional quarterly report, 41 percent are sending or are planning to send a quarterly press release to shareholders.
 It is not a requirement of the Securities and Exchange Commission (SEC) to send quarterly reports to shareholders. Despite this, more than 90 percent of surveyed companies still believe it is important to supply an interim status report to shareholders. Additionally, they want to do so in a more timely and cost-effective way.
 "The survey shows that the spirit of the information age has taken firm root in shareholder communications practices," said Louis M. Thompson, President and Chief Executive Officer of NIRI. "We expect these trends revealed in the survey to continue as new and innovative shareholder communications methods become available."
 In addition to the quarterly press release, other alternatives employed or considered by survey respondents are:
 -- A scaled-down version of the quarterly report;
 -- One semi-annual or mid-year report;
 -- A letter from the Chairman or CEO with financials;
 -- An "800" number; or
 -- An Automatic Data Processing (ADP) new short form report.
 The survey also found there is virtually no difference in the quarterly reporting practices and attitudes of large capital companies and small capital companies.
 A complete copy of the survey is available from NIRI. It includes tabular results by total respondents, large cap and small cap respondents, and nine pages of verbatim comments as to the alternatives to the traditional quarterly report.
 NIRI is an international professional organization of more than 2,500 corporate executives and investor relations consultants responsible for communication between corporate management and financial publics.
 -0- 11/1/94
 /CONTACT: Louis M. Thompson Jr. of the National Investor Relations Institute, 703-506-3570, or Frank Kelly, 202-434-8573, for the National Investor Relations Institute/


CO: National Investor Relations Institute; Rivel Research Group ST: Virginia IN: FIN SU:

KW-KF -- DC015 -- 0107 11/01/94 12:03 EST
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Publication:PR Newswire
Date:Nov 1, 1994
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