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RUBIDELL RECREATION REPORTS THIRD CONSECUTIVE PROFITABLE QUARTER

 RUBIDELL RECREATION REPORTS THIRD CONSECUTIVE PROFITABLE QUARTER
 ELKHORN, Wis., Aug. 14 /PRNewswire/ -- Rubidell Recreation, Inc. (NASDAQ: RBRC) today announced results for the third quarter of fiscal 1992, ended June 30, 1992.
 RUBIDELL RECREATION, INC.
 SUMMARY OF EARNINGS
 Quarter Ended Year-to-Date - Nine Months
 6/30/92 6/30/91 6/30/92 6/30/91
 Sales $2,099,082 $1,573,770 $5,903,392 $3,135,355
 Operating profit
 before income tax 195,952 61,407 269,050 111,420
 Operating profit 122,452 38,807 172,350 70,820
 Net income (loss) 122,452 (10,713) 852,896 (209,422)
 Earnings per share:
 Operations $0.034 $0.012 $0.050 $0.022
 Net income (loss) $0.034 ($0.003) $0.25 $(0.064)
 Jack Pilger, chairman of the board and chief executive officer, also announced that the company's first project with Grand Casinos, Inc. (NASDAQ: GRND), The Grand Casino Hinckley R.V. Resort, is nearing completion and will open Sept. 4 for the Labor Day weekend. The company will also manage, operate and provide marketing services for the R.V. Resort.
 This deluxe R.V. Resort will be the first of its kind in the state to be open 12 months a year, with full water, electric and sewer hook- ups -- all designed to be fully functional during the winter months. The resort will also have 50 Park Model R.V. Suites for rent, complete with cable television, phone service, full kitchen facilities as well as a wet bar. One and two bedroom models will be available. According to the state of Minnesota, there are presently 111,000 families with R.V.s in the that state, not to mention the neighboring states of Iowa and Wisconsin. Rubidell plans on contacting all potential users of the park and indicating to them that the facility is available year round.
 The company's balance sheet has improved greatly, with increased positive net worth. Total current assets have increased, while current total liabilities continue to decrease, resulting in a return to positive net worth. The company has eliminated almost $6,000,000 of notes and loans payables. Outstanding shares have increased due to insiders who have decided to increase their position in the company.
 The company also provides direct mail marketing services for campsite resort and vacation property developers in eight states.
 The company has hired Barry Kaplan Associates of New Jersey as its public relations firm. The shares of Rubidell Recreation, Inc. are now listed on the electronic bulletin board, under the symbol RBRC. In addition, share prices are now listed in both the Minneapolis Star Tribune and the St. Paul Pioneer Press.
 The stock trades locally over the counter in Minneapolis. R.J. Steichen & Co. of Minneapolis makes a market in the stock.
 -0- 8/14/92
 /CONTACT: Kris Cummings of Rubidell Recreation, 414-723-6660/
 (RBRC) CO: Rubidell Recreation; Grand Casinos, Inc. ST: Wisconsin, Minnesota IN: LEI SU: ERN


DS -- MN003 -- 9938 08/14/92 10:30 EDT
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Date:Aug 14, 1992
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