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RADIX VENTURES, INC. REPORTS RESULTS

 NEW YORK, March 16 /PRNewswire/ -- Radix Ventures, Inc., today announced the unaudited consolidated results of the company and subsidiaries for the three and six months ended Jan. 31, 1993.
 Net fees and commissions for the quarter increased 4.7 percent from the same period the prior year. This increase was derived from an increase in the volume of transactions handled for existing customers and from new customers obtained.
 Operating expenses increased 3.8 percent from the same period the prior year, resulting primarily from increases in salary and salary related expenses.
 As a result, the company reported a loss before income taxes of $139,649 for the quarter, and income before income taxes of $54,912 for the six months year-to-date.
 RADIX VENTURES, INC. AND SUBSIDIARIES
 Consolidated Statements of Income
 Periods ended Three Months Six Months
 Jan. 31 1993 1992 1993 1992
 Gross billings $93,441,450 $91,464,018 $198,648,887 $188,701,659
 Less duty, freight
 and other direct
 costs 86,198,846 84,547,574 183,803,257 174,568,233
 Net fees and
 commissions 7,242,604 6,916,444 14,845,630 14,133,426
 Operating exps. 7,279,906 7,011,912 14,568,063 13,926,637
 Operating income/
 (loss) (37,302) (95,468) 277,567 206,789
 Interest expense,
 net (101,685) (71,989) (174,777) (137,215)
 Equity in loss of
 unconsolidated
 subsidiaries (662) (31,670) (47,878) (60,749)
 Inc./(loss) before
 income taxes (139,649) (199,127) 54,912 8,825
 Income tax charge/
 (credit) (54,594) (57,576) 40,376 23,725
 Inc./(loss) before
 cum. effect of
 accounting chng. (85,055) (141,551) 14,536 (14,900)
 Cum. effect of
 chng. in method of
 accounting for
 income taxes -- -- -- 236,212
 Total $ (85,055) $ (141,551) $ 14,536 $ 221,312
 Earnings per share
 (based on 771,500
 shares outstanding):
 Inc./(loss) before
 cum. effect of
 accounting chng. $(0.11) $(0.18) $(0.02) $(0.02)
 Cum. effect of
 chng. in method of
 accounting for
 income taxes -- -- -- 0.31
 Net income/(loss) $(0.11) $(0.18) $ 0.02 $ 0.29
 -0- 3/16/93
 /CONTACT: Pierre L. Schoenheimer, chairman of Radix, 212-697-9141/


CO: Radix Ventures, Inc. ST: New York IN: SU: ERN

GK-OS -- NY071 -- 6740 03/16/93 16:41 EST
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Date:Mar 16, 1993
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