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RPM ANNOUNCES RECORD FIRST QUARTER SALES, EARNINGS AND EARNINGS PER SHARE

 RPM ANNOUNCES RECORD FIRST QUARTER
 SALES, EARNINGS AND EARNINGS PER SHARE
 MEDINA, Ohio, Oct. 9 /PRNewswire/ -- RPM, Inc. (NASDAQ: RPOW) today announced record results for its first quarter ended Aug. 31, 1992. Sales were a record $166,245,210, a 28 percent increase over the prior year's first quarter sales of $130,203,525. Record earnings totaled $11,968,882, a 17 percent increase over the prior year's earnings of $10,237,525. Record earnings per share totaled $.38, a 15 percent increase over the prior year's first quarter earnings per share of $.33. RPM stated that its first quarter results were in line with expectations and that it was particularly pleased with this strong operating performance, in light of continuing economic weakness worldwide. The record first quarter results and strong operating performance are a good indication that RPM will achieve its 46th consecutive record year of sales, earnings and earnings per share.
 At the RPM annual meeting shareholders approved an amendment to the company's Amended Articles of Incorporation to increase the authorized number of common shares of the company from 50,000,000 to 100,000,000 shares, available for possible future stock splits and dividends, acquisitions, public offerings and other corporate purposes.
 Shareholders at their annual meeting re-elected the following directors to three-year terms: Edward B. Brandon, chairman and chief executive officer of National City Corporation; William A. Papenbrock, vice chairman of Calfee, Halter & Griswold; Stephen Stranahan, chairman and chief executive officer of Intelco Company; and Thomas C. Sullivan, chairman and chief executive officer of RPM, Inc.
 As previously reported, RPM completed a major debt restructuring on Sept. 30 through the issuance of a $400 million principal amount at maturity convertible LYONs offering, with the net proceeds of $138 million used to repay existing bank debt. This financing strengthens the company's balance sheet and provides financial flexibility to allow RPM to take advantage of future opportunities.
 RPM, Inc. is a manufacturer of specialty coatings and chemicals for the waterproofing, corrosion-control and consumer do-it-yourself and hobby and marine markets. RPM markets products to approximately 75 countries and operates 44 plants in the United States, Canada and Europe. RPM shares are traded on the NASDAQ National Market System. The fiscal year ended May 31, 1992 was RPM's 45th consecutive record year of sales, earnings and earnings per share, with sales of $552,091,783, earnings of $34,466,387 and earnings per share of $1.10.
 CONSOLIDATED CONDENSED STATEMENTS OF INCOME
 (Unaudited)
 Three Months Ended August 31,
 1992 1991
 Net Sales $166,245,210 $130,203,525
 Cost of Sales 98,169,923 74,247,230
 Gross Profit $68,075,287 $55,956,295
 Selling, General &
 Administrative Expenses 47,871,082 38,887,944
 Income Before Income Taxes $20,204,205 $17,068,351
 Provision for Income Taxes 8,235,323 6,830,826
 Net Income $11,968,882 $10,237,525
 Earnings per Common Share
 & Common Share Equivalent(A) $.38 $.33
 Earnings per Common Share Assuming
 Full Dilution(A) $.36 $.32
 CONSOLIDATED CONDENSED BALANCE SHEETS
 (Unaudited)
 August 31,
 1992 1991
 Assets:
 Current Assets $277,689,755 $216,348,111
 Property, Plant & Equipment (net) 127,934,196 85,533,537
 Other Assets 172,914,962 138,722,111
 Total Assets $578,538,913 $440,603,759
 Liabilities and Shareholders' Equity:
 Current Liabilities $108,379,112 $75,679,691
 Long-Term Debt 233,656,098 148,188,711
 Other Liabilities 7,782,724 4,848,429
 Total Liabilities $349,817,934 $228,716,831
 Shareholders' Equity 228,720,979 211,886,928
 Total Liabilities &
 Shareholders' Equity $578,538,913 $440,603,759
 Current Ratio 2.6:1 2.9:1
 Shareholders' Equity per Share(A) $7.21 $6.76
 Working Capital $169,310,643 $140,668,420
 (A) -- Weighted average shares outstanding, including common share, equivalents, totaled 31,704,954 in 1992 and 31,339,411 in 1991.
 -0- 10/9/92
 /CONTACT: Thomas C. Sullivan or James A. Karman, both of RPM, Inc., 216-273-5090/
 (RPOW) CO: RPM Inc. ST: Ohio IN: CHM SU: ERN


KK -- CL004 -- 8422 10/09/92 14:44 EDT
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Date:Oct 9, 1992
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