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P&G EARNINGS UP 9 PERCENT IN THIRD QUARTER

 CINCINNATI, April 27 /PRNewswire/ -- The Procter & Gamble Company (NYSE: PG) announced today that net earnings for the January-March quarter were $516,000,000, an increase of 9 percent over net earnings of $474,000,000 for the same three months in the previous year. Earnings per share for the third quarter were $.72, up 7 percent from $.67 per share in the previous year. Pre-tax operating profit was up 11 percent. The increase in net earnings primarily reflects lower costs. The beneficial impact of a lower effective tax rate in the quarter was more than offset by asset sales a year ago.
 Net sales were $7,350,000,000, down 2 percent from net sales of $7,483,000,000 for the same quarter a year ago. Excluding adverse foreign exchange translation effects and the recent pulp and juice divestitures, net sales would have been up 4 percent in the quarter.
 In the July-March period, net earnings excluding the $200,000,000 after-tax juice reserve established last September, were $1,737,000,000, up 13 percent from $1,533,000,000 for the same nine months in the previous year. Comparable earnings per share were $2.44 per share, up 13 percent from $2.16 per share a year ago. Net sales for the nine months were $23,068,000,000, an increase of 4 percent over $22,195,000,000 for the same period a year ago.
 Commenting on the January-March results, Chairman of the Board Edwin L. Artzt stated "The U.S. business delivered its strongest quarterly unit volume growth in the past twelve months, exclusive of the discontinued pulp and juice businesses. We were also encouraged by another quarter of good volume growth in our international operations. Overall, cost containment efforts and volume growth contributed to the double digit increase in pre-tax operating profit."
 Millions of Dollars Except Per Share Amounts
 Percent
 1992-93 1991-92 Change
 Three Months Ended March 31
 Net Sales $ 7,350 $ 7,483 (1.8 pct)
 Net Earnings 516 474 8.9 pct
 Net Earnings Per Common Share .72 .67 7.5 pct
 -- Assuming Full Dilution .67 .62 8.1 pct
 Nine Months Ended March 31
 Net Sales $23,068 $22,195 3.9 pct
 Net Earnings 1,537 1,533 (A)
 Net Earnings Per Common Share 2.15 2.16 (A)
 -- Assuming Full Dilution 2.01 2.01 (A)
 (A) -- In the July-March, 1993 period, net earnings excluding the one-time $200 million after-tax juice reserve established in September were up 13.3 percent over the same period a year ago and comparable net earnings per common share were up 13.0 percent. Earnings per common share assuming full dilution were up 12.9 percent over the same period last year.
 -0- 4/27/93
 /CONTACT: Linda L. Ulrey, 513-945-8210, or Sydney L. McHugh, 513-945-8035, both of The Procter & Gamble Company/
 (PG)


CO: The Procter & Gamble Company ST: Ohio IN: HOU SU: ERN

BM -- CL008 -- 1145 04/27/93 08:46 EDT
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Date:Apr 27, 1993
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