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REPOSSESSION AUCTION ANNOUNCES SALES

 MIAMI, June 9 /PRNewswire/ -- Repossession Auction, Inc. (NASDAQ-NMS: REPO), today announced a first quarter 1993 net gain of $127,331 on sales of $2,399,238, compared to net income of $89,445 on sales of $2,158,209 during the first quarter of 1992.
 The company's increase in gross revenues and net income is due in large part to the company's expansion and consequent sales in Central and South America, specifically the country of Panama. The company is presently selling approximately 80 vehicles per month in Central America via its consignment agreement with Duty Free Cars and Trucks of Panama S.A. Although the company is encouraged by its present sales performance in Panama, it cannot guarantee that such performance will continue indefinitely.
 Chairman Lloyd Lyons emphasized that the company's overall financial position remained strong, with inventories and marketable securities in excess of $4 million at March 31, 1993.
 First quarter results are summarized below.
 REPOSSESSION AUCTION, INC.
 STATEMENTS OF INCOME
 Three Months Ended March 31:
 1993 1992
 Sales $2,399,238 $2,158,209
 Net Income 127,331 89,445
 Average Shares 3,300,000 3,300,000
 Earnings Per Share 0.04 0.02
 -0- 6/9/93
 /CONTACT: Lloyd Lyons of Repossession Auction, 305-756-1000/
 (REPO)


CO: Repossession Auction, Inc. ST: Florida IN: SU:

DC-MH -- DC022 -- 0196 06/09/93 13:32 EST
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Publication:PR Newswire
Date:Jun 9, 1993
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