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QUICK & REILLY GROUP REPORTS FIRST QUARTER EARNINGS; NET INCOME UP 41.4 PERCENT, REVENUES CLIMB 42.3 PERCENT

 QUICK & REILLY GROUP REPORTS FIRST QUARTER EARNINGS;
 NET INCOME UP 41.4 PERCENT, REVENUES CLIMB 42.3 PERCENT
 NEW YORK, June 25 /PRNewswire/ -- The Quick & Reilly Group, Inc. (NYSE: BQR) today reported the second highest quarterly earnings in the company's history for the three months ended May 29.
 Net income for the financial services company rose 41.4 percent to $6,780,398 (or 69 cents per share) as compared with $4,794,131 (or 52 cents per share) in the first quarter of fiscal 1992. First quarter revenues rose 42.3 percent to $46,517,967 from $32,683,984 a year earlier. The Quick & Reilly Group continues to lead the industry in profitability, with a pretax profit margin of 26 percent for the quarter.
 Leslie C. Quick Jr., chairman of the Quick & Reilly Group Inc., said, "These results extend our 18-year history of consistently profitable quarters. Above all, it reflects the soundness of our basic philosophy: to continue to expand profitably while maintaining superior customer service at highly competitive prices."
 Market Outlook:
 Quick said, "The outlook for stocks over all other investments remains excellent." He noted, however, that active individual investors are cautious at present about the stock market and the economy, as revealed in the Quick & Reilly 500 Survey of Individual Investor Sentiment. The national survey, which was released June 16, was conducted by the Wirthlin Group. It found that 61 percent of sophisticated individual investors believe that "there is too much economic uncertainty to be buying actively right now."
 Quick said, "The Quick & Reilly 500, which was well-received and quoted widely in the press, will be conducted each quarter as a barometer of investor confidence."
 Highlights by subsidiary:
 Quick & Reilly, Inc., the group's national retail brokerage unit, saw a 75 percent increase in new accounts opened versus the same period last year. Quick said, "This achievement supports our strategic plan to double the customer base during the next three years. It also reflects the success of the firm's new marketing campaign, despite lower trading volumes during the past three months."
 The firm will expand the 75-office Quick & Reilly, Inc. network by opening six new branches. New locations, to be opened by Labor Day, include: Jacksonville, Fla.; White Plains, N.Y.; Memphis, Tenn.; Oakbrook, Ill.; Vero Beach, Fla.; and San Fernando Valley, Calif.
 Quick noted that the group's U.S. Clearing Corp. subsidiary also achieved increased revenues and operating profits during the quarter, while continuing to expand through the addition of seven new correspondent firms.
 The group's NYSE specialist subsidiary, JJC Specialist Corp., yielded a strong quarter, with a rise in its revenues from trading commissions and a decrease in amortization payments from acquisitions.
 Quick & Reilly Group, Inc. is the holding company for Quick & Reilly, Inc., which in 1974 was the first New York Stock Exchange member firm to offer discounted commissions to the nation's most sophisticated individual investors. Headquartered in New York, Quick & Reilly, Inc. services its clients through 75 offices in every major city across the country.
 The Quick & Reilly Group, Inc. is also the holding company for U.S. Clearing Corp., which provides clearing and execution services for 156 brokerage and banking firms in addition to 75 Quick & Reilly offices; and JJC Specialist Corp., which makes markets in the stocks of more than 100 NYSE listed companies.
 THE QUICK & REILLY GROUP, INC.
 Financial Highlights
 (Unaudited)
 Three months ended 5/29/92 5/31/91
 Revenues $46,517,967 $32,683,984
 Net income before taxes 12,158,450 8,557,675
 Net income 6,780,398 4,794,131
 Earnings per share $0.69 $0.52
 Weighted average number
 of shares outstanding 9,883,646 9,209,868
 Cash dividends per share $0.08 $0.07
 -0- 6/25/92R
 /CONTACT: Leslie C. Quick III, COO of Quick & Reilly Group, 212-747-4844, or Bill Reddig of Hill and Knowlton, 212-697-5600, for Quick & Reilly Group/
 (BQR) CO: Quick & Reilly Group Inc. ST: New York IN: FIN SU: ERN


CK -- NY040 -- 3816 06/25/92 13:28 EDT
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Date:Jun 25, 1992
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