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OCE REPORTS 1993 FIRST QUARTER RESULTS

 VENLO, The Netherlands, April 15 /PRNewswire/ -- Consolidated results for the first quarter of fiscal 1993 were published here today by Oce-van der Grinten N.V. (NASDAQ: OCENY).
 The Dutch copying equipment group shows a first quarter net income of US$5.9 million, or $0.37 per share based on 15,896,492 shares outstanding, compared to $11.4 million, or $0.72 per share based on 15,895,242 shares outstanding at the fiscal 1992 year-end.
 Revenues in the first quarter went down 7 percent to $330.0 million. Disregarding exchange rate developments, revenues decreased by 3 percent. European revenues particularly continued to be adversely affected by the region's weak economic climate.
 Engineering systems (copying and plotting) revenues went down by more than 10 percent. Internal sales decreased by 6 percent. Supplies revenues especially were under pressure. This year's Hanover Trade Fair saw the introduction of a large number of large format machines for the engineering systems market: the Oce 7600, a high volume plain paper copier; the Oce 7700, a high volume printer/copier; the Oce 9500, a medium volume printer/copier; and a completely renewed series of pen plotters (the G1900 series) and raster plotters (the G9000 series). These new machines will further strengthen Oce's leading position in Europe as well as in the United States. Management believes they will make a clear contribution to revenues in the second half of 1993.
 Office systems (copying and printing) revenues decreased by 3 percent. Internal growth amounted to 1 percent. For the high volume segment, the product range was completed with the introduction at the Hanover Fair of the Oce 2475, a machine which duplexes 75 copies per minute. In competition with 1,600 other Fair entries, this copier won one of the coveted "Top 10" IF-labels from Industrie Forum Design.
 Operating income, including interest income from financial leases, decreased by 26 percent to $19.8 million. This decline is largely due to lower revenues. The recent depreciation of a number of important currencies against the Dutch guilder also had a particularly negative impact on margins and hence on operating income. This development was not unexpected and is in line with the performance in the second half of fiscal 1992. During the first quarter, revenues improved further in the United States, as did overall operating results. Interest income from financial leases developed positively.
 Net financial expense (aggregate of interest incurred and "other interest received") rose by $1.7 million to $12.6 million. The increase in net financial expense is due to higher financing requirements as a consequence of the growth in financial leases.
 Cash flow (net income plus depreciation) decreased by 23 percent to $40.7 million. Depreciation decreased further, mainly as a consequence of the continuing shift from rentals towards financial leases.
 Today's annual general meeting of stockholders approved a final dividend for fiscal 1992 of 2.25 Dutch guilders (1991: also NLG 2.25) in cash. An interim dividend of NLG 0.90 having been paid in October, the final dividend of NLG 1.35 will be payable as of April 28, 1993. Additionally, shareholders approved the re-appointment as a supervisory director of Th.M. Scholten and the appointment of H.B. van Liemt as a new member of the supervisory board.
 -0- 4/15/93
 /CONTACT: Ian Ogilvie of Ogilvie Taylor & Associates, in New York, 212-945-0590, for Oce/
 (OCENY)


CO: Oce-van der Grinten N.V. ST: IN: SU: ERN DIV

GK-OS -- NY100 -- 6412 04/15/93 15:58 EDT
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Date:Apr 15, 1993
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