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PRIMUS DEVELOPMENT GROUP II ANNOUNCES OPERATING RESULTS

 PRIMUS DEVELOPMENT GROUP II ANNOUNCES OPERATING RESULTS
 LOMBARD, Ill., Dec. 13 /PRNewswire/ -- Primus Development Group II,


Ltd. of Lombard, Ill., today announced its operating results for the six months ended Oct. 31, 1991. The company also said it has mailed proxy material today to shareholders of record for its annual meeting of shareholders to be held Jan. 14, 1992.
 For the first half of fiscal 1992, the six months ended Oct. 31, 1991, the company reported net sales of $2,395,000 and net income of $93,000 or $.05 per share. Included is an extraordinary credit of $27,000 or $.01 per share resulting from the utilization of a prior year loss.
 In October 1990, Primus Development Group II, Ltd. entered into a stock exchange agreement with two companies whereunder the company became the owner of two operating subsidiaries, Great Quotations, Inc. (now known as Celebrating Excellence of Illinois, Inc.) and Graphic Corp. (now known as Celebrating Excellence, Inc.) The company has formed a third operating subsidiary, CELEX Group, Inc. (formerly known as Successories, Inc.)
 The board of directors has adopted resolutions to merge the company into its wholly owned subsidiary, CELEX Group, Inc., which proposal will be presented to the shareholders at the annual meeting on Jan. 14, 1992. The details are included in proxy material, but in general, the purpose of this proposed merger is to change the name of the company and to simplify our corporate structure.
 PRIMUS DEVELOPMENT GROUP II, LTD.
 Unaudited Condensed Consolidated Statement of Income
 Six months ended 10/31/91
 Net Sales $2,395,000
 Cost of goods sold 927,000
 Gross profit 1,468,000
 Operating expenses 1,634,000
 Operating loss (166,000)
 Other income (expense)
 Gain on sales of
 investment holdings 330,000
 Interest expense - Net (62,000)
 Miscellaneous expense (9,000)
 Other Income - Net 259,000
 Income Before Income Taxes and
 Extraordinary Credit 93,000
 Income tax charge representing tax
 effect of net operating loss
 carryforward 27,000
 Income Before Extraordinary Credit 66,000
 Extraordinary credit - tax benefit
 of utilization of net operating
 loss carryforward 27,000
 Net Income 93,000
 Earnings per share of Common Stock
 Income before extraordinary credit $.04
 Net income .05
 Weighted average number of
 common stock shares 1,775,560
 -0- 12/13/91
 /CONTACT: Mark A. Waldron Jr. of Primus Development Group II, 708-953-1222/ CO: Primus Development Group II, Ltd. ST: Illinois IN: SU: ERN


SM -- NY065 -- 2558 12/13/91 17:28 EST
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Publication:PR Newswire
Date:Dec 13, 1991
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