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OPTA FOOD INGREDIENTS REPORTS THIRD-QUARTER RESULTS

 OPTA FOOD INGREDIENTS REPORTS THIRD-QUARTER RESULTS
 CAMBRIDGE, Mass., Oct. 27 /PRNewswire/ -- Opta Food Ingredients,


Inc. (NASDAQ: OPTS), a company engaged in the research and development of proprietary new food ingredients, had third-quarter net sales of $677,000 and a net loss of $1,243,000, or $.26 per share on 4,732,000 shares outstanding, for the period ended Sept. 30, 1992, it was reported today by Lewis Paine, president and chief operating officer.
 This compares with net sales of $162,000 and a net loss of $581,000, or $.18 per share on 3,115,000 weighted average shares outstanding, in the third quarter of 1991.
 Nine-Month Results
 For the first nine months of 1992, net sales were $1,213,000 with a net loss of $2,378,000, or $.56 per share on 4,203,000 weighted average shares outstanding. For the first nine months of 1991 net sales were $162,000 and the net loss was $2,045,000, or $.75 per share on 2,670,000 shares outstanding.
 The 1992 increase in weighted average number of shares outstanding primarily reflects Opta's March 1992 public offering of 1.7 million common shares.
 The increase in revenue is due to the sales of Better Basics(R) Oat Fibers, while the revenue in the prior year primarily reflected contract research and development programs in partnership with Pfizer, Inc. The fiber business was acquired on June 17, 1992, for a combination of cash and Opta common shares. The loss primarily reflects R&D costs, particularly for the development of OptaGrade and Crystalean.
 "The Better Basics Oat Fibers business is now fully integrated into Opta," Paine said, "and our research and development staff is working on a new generation of formulations and applications of the oat fibers in prepared foods. The addition of Kevin Buck, vice president - sales and business development, will also assist the future development of the fiber business."
 Paine added, "Importantly, our starch-based fat replacer, OptaGrade, continues to develop as forecast, in line with plans for its commercial introduction in 1993."
 Opta develops and markets proprietary new food ingredients which enable consumer products companies to improve the nutritional content, healthfulness and/or taste of foods. The company applies advanced enzymology and protein and carbohydrate chemistry to develop ingredients that can replace nutritionally undesirable food elements, such as fats and oils, while possessing important characteristics, such as flavor, texture, mouthfeel and shelf life. Opta's product development strategy is to modify inexpensive raw materials to produce natural food ingredients which can be considered Generally Recognized As Safe under current Food and Drug Administration regulations.
 OPTA FOOD INGREDIENTS, INC. AND SUBSIDIARIES
 Consolidated Statement of Income
 (Unaudited; in thousands except per share amounts)
 Periods ended Three Months Nine Months
 Sept. 30 1992(A) 1991 1992(A) 1991
 Net sales $ 677 $ 162 $ 1,213 $ 162
 Operating expenses 2,060 720 3,926 2,180
 Income from operations (1,383) (558) (2,713) (2,018)
 Other income/(expense), net 140 (23) 355 (27)
 Income before income taxes (1,243) (581) (2,358) (2,045)
 Provision for income taxes -- -- 20 --
 Net income/(loss) $(1,243) $(581) $(2,378) $(2,045)
 Earnings per common share $(0.26) $(0.18) $(0.56) $(0.75)
 Weighted average number
 of shares outstanding (A) 4,732 3,115 4,203 2,670
 (A) -- During the first quarter of fiscal 1992, Opta Food Ingredients, Inc., completed a public offering of 1,700,000 additional common shares.
 -0- 10/27/92
 /CONTACT: Lewis Paine, president of Opta, 617-252-0005, or fax, 617-252-0916; or Bill Pfund of P.L. Thomas Group, 312-906-8060, for Opta/
 (OPTS) CO: Opta Food Ingredients, Inc. ST: Massachusetts IN: FOD SU: ERN


GK-LR -- NY019 -- 5217 10/27/92 09:17 EST
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Date:Oct 27, 1992
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