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SPEC'S REPORTS YEAR END RESULTS

 SPEC'S REPORTS YEAR END RESULTS
 MIAMI, Oct. 9 /PRNewswire/ -- Spec's Music, Inc. (NASDAQ: SPEK)


today announced financial results for the fiscal year ended July 31, 1992.
 Revenues for fiscal 1992 increased by 6 percent to $62,834,000 compared to $59,352,000 in the prior year. Same-store revenues were unchanged during fiscal 1992. Net earnings increased by 9 percent to $1,930,000 ($.36 per share) compared to $1,766,000 ($.33 per share) in fiscal 1991.
 Revenues in the fourth quarter increased by 9 percent to $15,335,000 compared to $14,111,000 in 1991. During the fourth quarter, same-store revenues decreased by 1 percent over the prior year. Net loss in the fourth quarter was $96,000 ($.02 per share) compared to earnings of $250,000 ($.05 per share) in the prior year.
 In August 1992, the company opened a store in the Columbus Bazaar in Downtown Miami. In September, the company opened its second store in Puerto Rico at Plaza de Caribe Mall in Ponce and another store at International Drive in Orlando. The company is also planning to open stores in Pelican Bay Mall in Naples, and Duval Street in Key West during the second quarter.
 SPECS MUSIC, INC.
 Summary of Financial Results
 Fourth Quarter Year Ended
 Ended July 31, July 31,
 1992 1991 1992 1991
 Revenues $15,335,000 $14,111,000 $62,834,000 $59,352,000
 Net Earnings
 (loss) (96,000) 250,000 1,930,000 1,766,000
 Earnings (loss)
 per share $ (.02)$ .05 $ .36 $ .33
 Shares
 outstanding 5,341,000 5,345,000 5,321,000 5,342,000
 Specs Music, Inc. is a publicly held company founded in 1948 by Martin w. Spector. The company is the largest specialty retailer in Florida of pre-recorded music and video product. The company currently operates a total of 63 stores; 61 in Florida and 2 in Puerto Rico which sell compact discs, cassettes, video movies and a variety of audio and video related accessories. Thirty-eight of the company's stores also rent video movies.
 -0- 10/9/92
 /CONTACT: Martin W. Spector, 305-661-3451, or Peter Blei, 305-592-7288, both of Spec's Music, Inc./
 (SPEK) CO: Spec's Music, Inc. ST: Florida IN: REA SU: ERN


JB-AW -- FL002 -- 8240 10/09/92 09:47 EDT
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Date:Oct 9, 1992
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