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TEMPLE-INLAND 1991 EARNINGS DOWN 40 PERCENT FROM 1990

 TEMPLE-INLAND 1991 EARNINGS DOWN 40 PERCENT FROM 1990
 DIBOLL, Texas, Feb. 7 /PRNewswire/ -- Temple-Inland, Inc.


(NYSE: TIN) today reported that earnings per share for 1991 were $2.51, down 40 percent from $4.20 per share earned in 1990. Net income for the year was $138.4 million on revenues of $2.5 billion.
 Combined operating earnings of the forest products and financial services company were $215.8 million, down 30 percent from the previous year. Lower earnings from the manufacturing groups were somewhat offset by the financial services group's record performance.
 For the fourth quarter, net income was $23.7 million or $.43 per share, down from $48.1 million or $.88 per share in the fourth quarter last year. Results in the fourth quarter of 1991 included a write-off of $7.4 million, or $.11 per share related to an investment in a gypsum fiberboard venture.
 The company's container and containerboard group had operating earnings of $75.4 million for the year, down 50 percent from the previous year. Despite records in both production of containerboard and shipments of corrugated boxes, margins eroded as selling prices deteriorated for most of the year. However, selling prices did begin to improve in the fourth quarter as the group began implementation of a price restoration program.
 Earnings for the bleached paperboard group were $79.9 million, down 19 percent from 1990. Demand for bleached paperboard products weakened in the fourth quarter and pricing, which had been essentially flat, began to slip.
 Pulp price deterioration continued for the entire year, but appears to have stabilized at depressed levels. A two-month project to rebuild and upgrade a large recovery boiler adversely affected operations during the third and fourth quarter and lowered earnings by about $15 million.
 Temple-Inland's building products group earned $5.2 million for the year, down from $9.4 million the previous year. Pricing in 1991 ranged widely for most building products as demand was relatively weak throughout the year. Pricing began to strengthen late in the year as optimism grew over prospects for a housing recovery in both new construction and remodeling.
 Temple-Inland's Financial Services had another excellent year with earnings of $54.2 million, up 5 percent from 1990's record level. Both the mortgage banking operation and the consumer bank contributed to the improvement in earnings. The bank's total assets are now over $7 billion, reflecting growth of approximately $2 billion during 1991, primarily through acquisitions from the Resolution Trust Corporation. Mortgage banking generated about $1.8 billion in mortgages, a new record.
 The rate of recovery of the U.S. economy continues to be below expectations, and the company's markets reflect the lower level of activity. However, momentum appears to be building slowly and the company is cautiously optimistic that 1992 will be a year of recovery for Temple-Inland's earnings.
 TEMPLE-INLAND INC. AND SUBSIDIARIES
 (UNAUDITED)
 (in thousands, except per share amounts)
 Fourth Quarter For the Year
 1991 1990 1991 1990
 Total revenues $640,400 $618,000 $2,507,100 $2,401,100
 Manufacturing net
 sales 469,000 465,200 1,898,200 1,892,500
 Net income 23,700 48,100 138,400 232,500
 Earnings per share .43 .88 2.51 4.20
 Weighted average shares
 outstanding 55,298 54,973 55,248 55,361
 Business Segments
 Revenues
 Container and
 containerboard $283,500 $286,200 1,148,600 1,144,200
 Bleached paperboard 87,600 88,000 370,600 373,000
 Building products 75,500 69,100 311,100 305,300
 Other activities 22,400 21,900 67,900 70,000
 Manufacturing net
 sales 469,000 465,200 1,898,200 1,892,500
 Financial Services 171,400 152,800 608,900 508,600
 Total revenues 640,400 618,000 2,507,100 2,401,100
 Income
 Container and
 containerboard $ 20,400 33,500 75,400 150,900
 Bleached paperboard 14,100 19,800 79,900 98,800
 Building products 2,000 (300) 5,200 9,400
 Other activities 400 (1,200) 1,100 (1,700)
 Operating profit 36,900 51,800 161,600 257,400
 Financial Services 12,200 11,500 54,200 51,400
 Combined operating
 earnings 49,100 63,300 215,800 308,800
 Corporate expenses (3,900) (6,000) (16,000) (20,700)
 Parent company
 interest - net (11,100) (7,100) (31,800) (24,000)
 Other - net (5,500) (2,300) (1,200) 4,700
 Income before taxes 28,600 52,500 166,800 268,800
 Taxes on income 4,900 4,400 28,400 36,300
 Net Income $23,700 $48,100 138,400 232,500
 -0- 2/7/92
 /CONTACT: Joseph M. Areddy of Temple-Inland Inc., 317-879-4328/
 (TIN) CO: Temple-Inland Inc. ST: Texas IN: SU: ERN


KK -- CL002 -- 7640 02/07/92 09:28 EST
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Date:Feb 7, 1992
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