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RIEDEL TURNAROUND CONTINUES

 RIEDEL TURNAROUND CONTINUES
 PORTLAND, Ore., Oct. 29 /PRNewswire/ -- Arthur A. Riedel, chairman,


president and chief executive officer of Riedel Environmental Technologies Inc. (RET) (AMEX: RIE), announced today that the company achieved highest-ever third-quarter earnings of $1.1 million, or 29 cents per share, for the quarter ended Sept. 30, 1992, compared to a loss of $1.1 million, or 32 cents per share, for the similar period in 1991.
 This brings the environmental services company's earnings to $1.5 million, or 41 cents per share, for the first three quarters, versus a loss in 1991 of $4.4 million, or $1.27 per share, for the comparable period.
 Riedel credited the company's continued focus on its "Back to Basics" strategy and heightened cost awareness for the improved performance. During the first half of 1992 the company divested seven separate operations which lost money in previous years to concentrate on its core businesses: hazardous waste site remediation, recycled rubber products and solid waste management.
 Riedel stated, "'Back to Basics' has really paid off for us. We eliminated some costly operations and sharpened our focus on our main businesses." Riedel added, "Our team has really pulled together this year. Our focus on our core businesses has helped us win several major contracts recently and we have a strong forward momentum." The company recently announced a new $100-million contract with the USEPA, a separate $16-million ceiling increase on another EPA contract, and a PCB cleanup contract for the Bonneville Power Administration, all within a period of three weeks.
 RIEDEL ENVIRONMENTAL TECHNOLOGIES INC.
 FINANCIAL DATA
 (Unaudited, in thousands, except per-share data)
 Three Months Nine Months
 Ended Sept. 30: 1992 1991 1992 1991
 Revenues $20,974 $22,835 $68,025 $61,163
 Costs 14,631 16,171 49,985 44,269
 Gross profit 6,343 6,664 18,040 16,894
 Selling, general and
 administrative expenses 4,512 5,461 14,341 16,530
 Operating income (loss) 1,831 1,203 3,699 364
 Interest (716) (575) (2,328) (1,617)
 Other income (expense) (2) (235) 120 (96)
 Income (loss) from continuing
 operations before income taxes 1,113 393 1,491 (1,349)
 Income tax benefit -- -- -- (1,500)
 Income from continuing operations 1,113 393 1,491 151
 Loss from operations of
 discontinued entities -- (1,508) -- (4,579)
 Net income (loss) $ 1,113 $(1,115) $ 1,491 $(4,428)
 Net income (loss) per common share:
 Income from continuing
 operations $ 0.29 $ 0.11 $ 0.41 $ 0.04
 Loss from discontinued
 operations -- (0.43) -- (1.31)
 Net income (loss) $ 0.29 $ (0.32) $ 0.41 $ (1.27)
 -0- 10/29/92
 /CONTACT: Dave Rynd, vice president, executive assistant to the chief executive officer, Riedel Environmental Technologies, 503-286-4656/
 (RIE) CO: Riedel Environmental Technologies Inc. ST: Oregon IN: SU: ERN


SW-LM -- SE005 -- 6372 10/29/92 07:49 EST
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Date:Oct 29, 1992
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