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PRICE WATERHOUSE ANNOUNCES FISCAL '93 RESULTS

 NEW YORK, Oct. 7 /PRNewswire/ -- Price Waterhouse announced today that revenue for the U.S. firm increased by just over 4 percent for the year ended June 30, 1993, to $1.43 billion from $1.37 billion. This record result contributes to a five-year growth pattern that has seen revenues increase by 30 percent since 1989.
 While tax services and audit and business advisory services continued to experience steady growth during fiscal 1993, management consulting services showed the most significant gains with an 11 percent increase over the previous year. This was due, in part, to the continued growth of the firm's information technology services and the expansion of Price Waterhouse's Change Integration/Business Process Transformation practice.
 "Anticipating our clients' needs for new services, for in-depth industry knowledge and for help in improving their performance has allowed us to grow by nearly a third over a five-year period, despite a sluggish economy and an intensely competitive environment," said Shaun O'Malley, senior partner of Price Waterhouse U.S. "The firm's strong performance is also due to our success in developing and applying leading-edge technology that makes our worldwide expertise readily accessible to our own professionals and to our clients on a timely basis, irrespective of location."
 Worldwide fee income of Price Waterhouse was $3.89 billion for the year ended June 30, 1993, a 3.4 percent increase over the previous year. Since 1989, worldwide revenues at Price Waterhouse have increased by 85 percent.
 Commenting on the firm's worldwide results, O'Malley said that Price Waterhouse's worldwide growth demonstrates a sustained ability to meet the evolving needs of its clients and help them capitalize on new opportunities and changing market conditions. For example, through its global network of member firms, Price Waterhouse has assisted companies that wish to expand into Eastern Europe and the Asia-Pacific region. The firm has also established the NAFTA Business Center to assist multinationals in their North American strategies.
 Price Waterhouse is committed to providing the ideas, information and advice that will help clients make better business decisions. Through a global network of firms with 448 offices practicing in 117 countries and territories, Price Waterhouse professionals work together to provide accounting, auditing, tax planning and compliance, management and technology consulting, litigation support and business advisory services to corporations, individuals, non-profit organizations, and government departments and agencies. The U.S. firm, with 106 offices and 12,995 men and women, is a vital part of the Price Waterhouse worldwide network.
 -0- 10/7/93
 /CONTACT: Peter Horowitz of Price Waterhouse, 212-930-5225/


CO: Price Waterhouse ST: New York IN: FIN SU: ERN

PS-TW -- NY018 -- 9758 10/07/93 12:12 EDT
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Publication:PR Newswire
Date:Oct 7, 1993
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