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RIEDEL ANNOUNCES 1992 PROFIT

 PORTLAND, Ore., March 31 /PRNewswire/ -- Riedel Environmental Technologies Inc. (RET) (AMEX: RIE) announced today that the company's result improved by almost $5 million in 1992 compared with 1991, with a profit of $1.4 million, or 37 cents per share, for 1992 compared with a 1991 loss from continuing operations of $3.4 million, or 97 cents per share.
 1991 results from all RET operations showed a loss of $27 million which led the company to adopt a "Back to Basics" strategy with the focus on its core businesses of hazardous waste site remediation and manufacture of rubber products from recycled rubber. During the first half of 1992 the company successfully divested six separate operations including its hazardous waste treatment, storage and disposal facilities and coal mining operations.
 Arthur A. Riedel, RET chairman and chief executive officer, stated, "We are very enthusiastic about our 1992 results. We eliminated six money-losing operations and simultaneously won major contracts with the EPA and Department of Defense. Our success in 1992 excites us about the future of Team Riedel."
 RIEDEL ENVIRONMENTAL TECHNOLOGIES INC.
 (Unaudited, in thousands, except per-share data)
 Three Months Year
 Ended Dec. 31: 1992 1991 1992 1991
 Revenue $ 24,272 $ 18,508 $ 92,297 $ 79,671
 Gross profit 6,628 2,792 24,668 19,686
 Operating income (loss) 904 (3,140) 4,603 (2,776)
 Net Income (Loss):
 From continuing
 operations $ (110) $ (3,544) $ 1,381 $ (3,393)
 From discontinued
 operations -- (1,475) -- (6,054)
 From disposal of discontinued
 operations -- (17,353) -- (17,353)
 Total net income (loss) $ (110) $(22,372) $ 1,381 $(26,800)
 Net Income (Loss) Per
 Common Share:
 From continuing
 operations $ (0.03) $ (1.02) $ 0.37 $ (0.97)
 From discontinued
 operations -- (0.42) -- (1.74)
 From disposal of discontinued
 operations -- (4.98) -- (4.98)
 Total net income (loss) per
 common share $ (0.03) $ (6.42) $ 0.37 $ (7.69)
 -0- 3/31/93
 /CONTACT: Dave Rynd, vice president, executive assistant to chief executive officer, of Riedel Environmental Technologies, 503-286-4656/
 (RIE)


CO: Riedel Environmental Technologies Inc. ST: Oregon IN: ENV SU: ERN

LM-MS -- SE017 -- 1689 03/31/93 16:49 EST
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Date:Mar 31, 1993
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