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STANDARD PRODUCTS REPORTS CONTINUED IMPROVEMENT IN SALES AND NET INCOME FOR THE SECOND QUARTER AND FIRST HALF

 STANDARD PRODUCTS REPORTS CONTINUED IMPROVEMENT IN SALES
 AND NET INCOME FOR THE SECOND QUARTER AND FIRST HALF
 CLEVELAND, Jan. 20 /PRNewswire/ -- The Standard Products Co. (NYSE: SPD) reported today that sales and net income for the second quarter of fiscal 1992 improved over the year-ago period as well as over the current year's first quarter.
 Sales from continuing operations for the three months ended Dec. 29, 1991 were $157,303,000, an 8 percent gain over sales of $145,405,000 last year and 3 percent above sales of $152,555,000 in the most recent quarter. Net income was $5,158,000, or 51 cents per share, compared with a net loss last year of $2,281,000, or 22 cents per share, which included the discontinued military operations. Results for the current quarter, which benefited in part from retroactive pricing adjustments equal to 20 cents per share at the Company's Silent Channel subsidiary in the United Kingdom, were substantially ahead of net earnings of 6 cents per share in the first three months of fiscal 1992.
 Sales for the first half of the year rose to $309,858,000, an increase of 8 percent over sales from continuing operations of $285,276,000 in the first six months of last year. For the first half of fiscal 1992, the Company had net income of $5,808,000, equal to 57 cents per share, compared with a net loss last year of $3,946,000, or 38 cents per share, including the discontinued operations.
 Profitability of Standard Products' automotive operations in the United States and Canada also rose during the second quarter. Sales to North American manufacturers of cars and light trucks were $101,715,000, an increase of 10 percent over the prior year's volume. During this period, the total North American car and light truck build was up 5.5 percent.
 In the U.K, Silent Channel reduced its overall loss in the second quarter to 11 cents per share in the face of a slow down in the North American and European car builds. Silent Channel fell short of its goal of bringing production of the Ford Crown Victoria/Mercury Grand Marquis to profitable levels during the second quarter primarily as a result of the weak North American market.
 Sales of Oliver Rubber for the quarter were $23,966,000, down 17 percent from the prior year, the result of ongoing soft market conditions. Concentration on internal improvements, however, enabled Oliver to realize solid earnings for the second quarter in a row. The Company's Holm Industries subsidiary recorded somewhat higher sales than a year ago and a slight profit.
 James S. Reid, Jr., chairman and chief executive officer, said the favorable results reflect in large part the decisions made over the past year. "In fiscal 1991, we managed a difficult start-up at two plants in England while making major efforts to bring costs in line with a falling car build in both North America and Europe. We also made the decision to discontinue our military operations, and that program is on track. Looking ahead, our challenge is to continue our internal cost reduction programs while we all await improvement in the car build and the economy."
 Cleveland-based Standard Products manufactures rubber and plastic parts for the automotive original equipment industry, and plastic an magnetic door seals for home appliances. Its Oliver Rubber subsidiary is a major producer of tread rubber for truck tire retreading.
 THE STANDARD PRODUCTS COMPANY
 Consolidated Earnings Summary (Unaudited) (000 omitted)
 Three Months Six Months
 Periods Ended 12/29/91 12/31/90(A)12/29/91 12/31/90(A)
 Sales $157,303 $145,405 $309,858 $285,276
 Income (Loss) Before
 Taxes on Income 9,288 536 12,528 (169)
 Provision for Taxes
 on Income 4,130 2,205 6,720 2,832
 Income (Loss) from
 Continuing Operations 5,158 (1,669) 5,808 (3,001)
 Loss from Operations of
 Discontinued Division,
 Net of Tax - (612) - (945)
 Net Income (Loss) $ 5,158 $(2,281) $ 5,808 $ (3,946)
 Earnings (Loss) Per
 Common Share:
 Continuing Operations $.51 $(.16) $.57 $(.30)
 Discontinued Operations - (.06) - (.09)
 Net Income (Loss) Per Share$.51 $(.22) $.57 $(.39)
 Average Shares
 Outstanding 10,156,076 10,155,604 10,156,076 10,153,312
 (A) Prior year amounts have been restated to report as discontinued
 operations the results of the military division.
 -0- 1/20/92
 /CONTACT: Raymond V. Barrett or Dale A. Cable of The Standard Products Co., 216-281-8300; or William L. Dupuy of Edward Howard & Co., 216-781-2400, for The Standard Products Co./
 (SPD) CO: The Standard Products Co. ST: Ohio IN: AUT SU: ERN


KK -- CL003 -- 1343 01/20/92 10:12 EST
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Date:Jan 20, 1992
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