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READING COMPANY ANNOUNCES THIRD QUARTER RESULTS

 PHILADELPHIA, Nov. 18 ~PRNewswire~ -- Reading Company (NASDAQ: RDGCA) today reported that for the third quarter of 1992, the company had net income of $163,000 equivalent to $.03 per share vs. net income of $2,000 or $.00 per share in the third quarter last year.
 Revenues for the three-month period this year totaled $1,234,000 as compared with revenues of $1,198,000 in the comparable period last year.
 For the nine months ended Sept. 30, 1992, the company had a net loss of $2,921,000 or $.59 per share and revenues of $3,597,000 compared with net income of $1,953,000 or $.39 per share and revenues of $4,901,000 for the nine-month period last year.
 The loss for the nine months ended Sept. 30, 1992, was a result of a $3,271,000 valuation provision relating to the company's real estate holdings.
 Reading Company is a Philadelphia-based real estate holding company.
 READING COMPANY AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 (Unaudited; in thousands, except shares and per-share amounts)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Revenues $1,234 $1,198 $3,597 $4,901
 Net income (loss) 163 2 (2,921) 1,953
 Per share information:
 Net income (loss) $.03 $.00 $(.59) $.39
 Shares used in
 computation 4,973,778 4,971,986 4,973,369 4,971,746
 -0- 11~18~92
 ~CONTACT: James A. Wunderle of the Reading Company, 215-735-8300~
 (RDGC)


CO: Reading Company ST: Pennsylvania IN: SU: ERN

MK-MP -- PH006 -- 2207 11~18~92 09:38 EST
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Publication:PR Newswire
Date:Nov 18, 1992
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