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QUICK & REILLY GROUP REPORTS RECORD QUARTERLY AND YEAR-END EARNINGS; QUARTERLY NET INCOME NEARLY TRIPLES, REVENUES NEARLY DOUBLE

 QUICK & REILLY GROUP REPORTS RECORD QUARTERLY AND YEAR-END EARNINGS;
 QUARTERLY NET INCOME NEARLY TRIPLES, REVENUES NEARLY DOUBLE
 NEW YORK, March 26 /PRNewswire/ -- The Quick & Reilly Group, Inc. (NYSE: BQR), today reported record earnings for the fourth quarter and fiscal year ended Feb. 29, 1992.
 The group's quarterly results saw net income of $8,468,120 or $0.89 per share on revenues of $52,432,637 compared with net income of $2,971,614 or $0.32 per share on revenues of $27,807,179 for the same period in fiscal 1991. These results represent a 185 percent increase in net income and an 89 percent rise in revenues. The pre-tax profit margin for the quarter was 31.6 percent versus 19.9 percent for the previous year's fourth quarter. This quarter's results extend Quick & Reilly's 17-year history of consistently profitable quarters since its founding in 1974.
 For the 1992 fiscal year, net income rose 93 percent to $22,683,660 compared to $11,755,216 for the fiscal year 1991. Revenues increased 39 percent to $154,018,956 from $110,944,687 for the corresponding period. Earnings per share rose 95 percent to a record $2.44 versus $1.26 a year ago. The pre-tax profit margin for the year was 27.3 percent versus 18.9 percent for the previous year.
 The group previously announced that it is increasing its quarterly dividend by 14 percent to $0.08 per share and will be paying a special year-end dividend of 10 cents to shareholders on April 1.
 Leslie C. Quick Jr., group chairman and chief executive officer, said, "Quick & Reilly's record financial success this past year can be attributed to increased interest in equity investments among our retail investors as well as outstanding performances by our clearing and specialist units."
 Highlights by subsidiary included:
 Quick & Reilly, Inc., the group's national retail brokerage unit, recently launched a $5 million advertising campaign and introduced a service guarantee as part of a strategic plan to double the firm's customer base during the next three years. According to Quick, this plan is based on extensive research which indicates that there is a growing number of investors who make their own investment decisions and do not want to pay for investment advice that they do not need or use. "Individual investors want access to information, personal service and savings on their brokerage commissions. The firm's introduction of a guarantee on brokerage service -- an industry first -- demonstrates continued confidence in our brokers' ability to provide investors quality service and a 'risk-free' introduction for new clients to Quick & Reilly," Quick continued.
 In addition, to better serve investors, the firm plans to extend its 75-branch network by opening six new branch offices during the next six months.
 Quick & Reilly Group's subsidiary, U.S. Clearing Corp., saw an increase in its business of providing clearing and execution services for banks and broker dealers. It added 28 new firms during the year, bringing the total number of clients to 140.
 The group's NYSE specialist subsidiary, JJC Specialist Corp., recently was awarded the new issue of Federated Department Stores. The subsidiary experienced an increase in business this past year corresponding with the surge in daily volume on the NYSE.
 Formed in 1981, the Quick & Reilly Group, Inc., is the holding company for Quick & Reilly, Inc. (founded in 1974), the first member firm of the New York Stock Exchange to offer reduced commissions to individual investors. A national brokerage firm headquartered in New York, Quick & Reilly, Inc., services its clients through 75 offices nationwide.
 The Quick & Reilly Group, Inc., is also the holding company for U.S. Clearing Corp. (founded in 1978), which provides clearance for 140 brokerage and banking firms in addition to 75 Quick & Reilly offices; and JJC Specialist Corp. (founded in 1982), which makes markets in the stock of 99 NYSE listed companies.
 THE QUICK & REILLY GROUP, INC.
 Financial Highlights (Unaudited)
 Three months ending 2/29/92 2/28/91
 Revenues $ 52,432,637 $ 27,807,179
 Net income before taxes 16,565,103 5,535,621
 Net income $ 8,468,120 $ 2,971,614
 Earnings per share $0.89 $0.32
 Weighted average number
 of shares outstanding 9,489,992 9,209,868
 Year ending 2/29/92 2/28/91
 Revenues $154,018,956 $110,944,687
 Net income before taxes 42,035,546 20,915,015
 Net income $ 22,683,660 $ 11,755,216
 Earnings per share $2.44 $1.26
 Weighted average number
 of shares outstanding 9,287,254 9,360,801
 -0- 3/26/92
 /CONTACT: Leslie C. Quick III, chief operating officer of Quick & Reilly Group, 212-943-8772; or Jill E. Posnick, 212-697-5600, for Quick & Reilly Group/
 (BQR) CO: The Quick & Reilly Group, Inc. ST: New York IN: FIN SU: ERN


GK -- NY024 -- 1826 03/26/92 09:06 EST
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Date:Mar 26, 1992
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