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SCOTT & STRINGFELLOW FINANCIAL ANNOUNCES RESULTS

 SCOTT & STRINGFELLOW FINANCIAL ANNOUNCES RESULTS
 RICHMOND, Va., Jan. 24 /PRNewswire/ -- Scott & Stringfellow


Financial, Inc. (NASDAQ-NMS: SCOT) posted higher operating results on an unaudited basis for the second quarter of fiscal 1992 ended Dec. 31, 1991.
 The company's primary subsidiary is Scott & Stringfellow Investment Corp., a regional brokerage, financial services and investment banking firm headquartered in Richmond, Va.
 Francis A. Pineno, president and chief executive officer, said gross revenues for the second quarter increased to a record $11,452,376 from $7,756,223 a 47.7 percent increase from last year's results.
 Second quarter income before taxes rose to a record $1,307,491 from a year-ago level of $150,742. Net income for this quarter increased to $827,491 from $100,742. Earnings per share increased to $.46 from $.06.
 The rise in both revenues and income was attributed to a strong market environment in the second quarter which impacted both commission and investment banking income very positively. Higher levels of underwriting activity were a principal reason behind the favorable results.
 Conversely, the second quarter ended Dec. 31, 1990 reflected a poor market environment and low underwriting activity.
 For the six months, gross revenues increased 39.3 percent to $22,002,870 versus $15,791,166. Income before taxes for the same period increased 368.6 percent to $2,299,585 versus $490,768. Net income rose 337.7 percent to $1,469,585 compared with $335,768. Earnings per share were $.82 versus $.18.
 Average common shares outstanding for the second quarter decreased from 1,812,938 a year ago to 1,799,373. Average common shares outstanding for the six months declined from 1,845,684 a year ago to 1,799,292. The decline in shares outstanding reflects the Company's share repurchase program.
 Scott & Stringfellow Investment Corp. was founded in Richmond, Va. in 1893 and is the South's oldest continuous member of the New York Stock Exchange. The common stock of the holding company, Scott & Stringfellow Financial, Inc. has been traded in the Over-the-Counter market since an initial public offering in November 1986. The firm has 25 branch offices throughout Virginia, North Carolina and West Virginia and 370 employees of which 166 have full time Investment Broker positions.
 -0- 1/24/92
 /CONTACT: Francis A. Pineno, President and CEO, Scott & Stringfellow Financial, Inc., 804-643-1811, ext. 216/
 (SCOT) CO: Scott & Stringfellow Financial, Inc.; Scott & Stringfellow
 Investment Corp. ST: Virginia IN: FIN SU: ERN


CM -- CH002 -- 3155 01/24/92 09:33 EST
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Date:Jan 24, 1992
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