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STANDARD COMMERCIAL ANNOUNCES RECORD RESULTS FOR QUARTER AND SIX MONTHS

 STANDARD COMMERCIAL ANNOUNCES RECORD RESULTS
 FOR QUARTER AND SIX MONTHS
 WILSON, N.C., Nov. 5 /PRNewswire/ -- Standard Commercial Corporation (NYSE: STW) today reported record sales and earnings for the six months ended Sept. 30, 1992. Sales of $594.3 million were up 8.8 percent compared to $546.5 million for the same period in 1991. Income from continuing operations for the same periods increased by 24.4 percent, to $11.4 million from $9.2 million, and net income reached an all-time high for the first half of $11.6 million, up 19.4 percent from $9.7 million compared to the same 1991 period. Primary earnings per share were up from $1.18 to $1.37, while fully diluted earnings per share increased from $1.18 to $1.23.
 Sales and earnings for the 1992 second quarter also reached new highs. Sales were $313.6 million compared to $272.5 million in the same quarter of 1991, an increase of 15.1 percent. Record-high net income for the 1992 quarter totaled $6.3 million compared to $4.2 million a year earlier, an increase of 49.6 percent. Net earnings per share for the same periods were $0.72 ($0.64 fully diluted) and $0.51, respectively.
 Demand for tobacco strengthened and sales increased by 24.2 percent and 8.3 percent for the 1992 second quarter and six months over the respective prior year periods. The September 1992 quarter included the results of W A Adams Company for the first time and shipments delayed from the first quarter. Quantities sold in the 1992 first half increased by 18 percent of which 6 percent was attributable to subsidiaries acquired since September 1991. Operating margins on tobacco improved for both periods. Wool sales for the 1992 first half were up by 9.2 percent, but down by 8.1 percent in the second quarter. An overall 3 percent decline in the volume of 1992 first-half wool sales and apprehensions in the market place attributable to unsettled European exchange rates and recessionary conditions in many countries resulted in a small operating loss for the 1992 second quarter following strong earnings in the first quarter, and wool results were positive in the first half for both years. Small losses were recorded in both years on other businesses.
 Continuing strong international demand for tobacco, and a resumption of improving trends in the wool business are anticipated for the last half of fiscal 1993. Because of the seasonal nature of the Company's businesses, results for interim periods are not necessarily indicative of results for the full year.
 FINANCIAL HIGHLIGHTS
 (In thousands, except per share amounts; unaudited)
 Quarter Ended Sept. Six Mos Ended Sept.
 1992 1991 1992 1991
 Sales
 tobacco $239,271 $192,593 $417,968 $385,762
 wool 68,938 75,023 165,764 151,830
 other 5,356 4,872 10,609 8,926
 Total Sales 313,565 272,488 594,341 546,518
 Income from continuing
 operations before
 extraordinary
 items 6,305 4,153 11,406 9,169
 Benefit of tax-loss
 carryforwards (16) 50 165 523
 Net income 6,289 4,203 11,571 9,692
 Earnings per common share
 Primary
 from continuing
 operations $0.72 $0.50 $1.35 $1.11
 net $0.72 $0.51 $1.37 $1.18
 Fully diluted
 from continuing
 operations $0.64 $0.50 $1.22 $1.11
 net $0.64 $0.51 $1.23 $1.18
 Average shares
 outstanding
 Primary 8,511.4 8,244.6 8,380.8 8,243.5
 Fully diluted 10,900.6 8,244.6 10,638.6 8,243.5
 Standard Commercial is the world's second largest leaf tobacco dealer and among the top international wool trading companies. It operates in virtually every tobacco and wool producing country and sells worldwide to tobacco manufacturers and wool users.
 -0- 11/5/92
 /CONTACT: Guy M. Ross, Standard Commercial Corporation, 919-291-5507/
 (STW) CO: Standard Commercial Corporation ST: North Carolina IN: TOB SU: ERN


SB-MM -- CH034 -- 7958 11/05/92 17:15 EST
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Date:Nov 5, 1992
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