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TEMPLE-INLAND INC. THIRD QUARTER EARNINGS UP 22 PERCENT FROM COMPARABLE 1991 QUARTER

 TEMPLE-INLAND INC. THIRD QUARTER EARNINGS
 UP 22 PERCENT FROM COMPARABLE 1991 QUARTER
 DIBOLL, Texas, Oct. 12 /PRNewswire/ -- Temple-Inland Inc. (NYSE: TIN) today reported earnings of $.71 per share for the third quarter of 1992, up 22 percent from $.58 per share in the third quarter of last year. For the first nine months of this year, earnings per share were $2.19, up from $2.08 in the first nine months of 1991.
 Revenues in the quarter totaled $672.2 million, up from $641.5 million in the third quarter last year.
 As in the first two quarters of this year, all operating groups with the exception of bleached paperboard had improved earnings over year- earlier levels.
 Temple-Inland's container and containerboard group had earnings of $29.1 million, up 56 percent from the depressed level of $18.7 million earned in the third quarter last year. Corrugated box shipments were strong throughout the quarter, up 8.3 percent over last year's third quarter. And, the company's containerboard mills had record production for the third straight quarter. Profit margins were down from this year's second quarter because of continuing cost pressure.
 The bleached paperboard group continues to suffer from weak demand and lower selling prices. Earnings for the quarter were $5.4 million, down from $15.7 million last year. Declining demand for all grades of board continues to result in poor product mix for the mill, which in turn has hampered operating efficiencies and severely lowered profit margins.
 The company's building products group had earnings of $9.5 million, more than double the $4.4 million earned in the third quarter last year. Demand for solid wood products continues strong and average selling prices improved from the most recent quarter, except for lumber. Pricing of lumber and plywood remains very volatile and has now moderated from peak levels reached in September. Timber costs were higher, causing profit margins to be squeezed for most products.
 Temple-Inland Financial Services continues to report improved earnings over the previous year's comparable quarter. Earnings in the quarter were $16.2 million, up 29 percent from $12.6 million in the third quarter of 1991. Earnings have now exceeded year-to-year comparisons for 11 consecutive quarters.
 Margins from the savings bank were adversely affected by higher- than-normal prepayments of existing loans and a shrinking deposit base. However, record mortgage originations of $936 million increased profitability for this segment of the group and partially offset the earnings decline of the savings bank from last quarter's level.
 In announcing results, Temple-Inland chairman and chief executive officer Clifford J. Grum said, "We are pleased to report improved earnings over year-earlier levels for the second straight quarter. Despite the sluggishness of the U.S. economy, three of our four operating groups were able to report improved earnings, offsetting the disappointing performance of our bleached paperboard business. An improved economy could bring much needed price relief in our paper segments, and allow us to restore our profit margins."
 TEMPLE-INLAND INC. AND SUBSIDIARIES
 (UNAUDITED)
 (in thousands, except per share amounts)
 Third Quarter First Nine Months
 1992 1991 1992 1991
 Total Revenues $672,200 $641,500 $2,014,600 $1,866,700
 Manufacturing Net
 Sales 521,700 475,400 1,530,700 1,429,200
 Net income 39,200 32,000 121,700 114,700
 Earnings per share .71 .58 2.19 2.08
 Weighted avg. shares
 outstanding 55,541 55,364 55,570 55,231
 Business Segments
 Revenues
 Container and
 containerboard $315,600 $285,300 $930,700 $865,100
 Bleached paperboard 86,600 91,500 263,900 283,000
 Building products 98,100 86,800 288,200 235,600
 Other activities 21,400 11,800 47,900 45,500
 Manufacturing net
 sales 521,700 475,400 1,530,700 1,429,200
 Financial Services 150,500 166,100 483,900 437,500
 Total Revenues 672,200 641,500 2,014,600 1,866,700
 Income
 Container and
 containerboard $29,100 $18,700 $85,900 $55,000
 Bleached paperboard 5,400 15,700 21,400 65,800
 Building products 9,500 4,400 29,800 3,200
 Other activities 500 100 100 700
 Operating Profit 44,500 38,900 137,200 124,700
 Financial Services 16,200 12,600 53,400 42,000
 Combined operating
 earnings 60,700 51,500 190,600 166,700
 Corporate expenses (3,900) (3,900) (12,200) (12,100)
 Parent company
 interest - net (11,100) (9,300) (33,400) (20,700)
 Other Income 1,500 200 1,600 4,300
 Income before taxes 47,200 38,500 146,600 138,200
 Taxes on Income 8,000 6,500 24,900 23,500
 Net Income $39,200 $32,000 $121,700 $114,700
 -0- 10/12/92
 /CONTACT: Joseph M. Areddy of Temple-Inland, Inc., 317-879-4328/
 (TIN) CO: Temple-Inland, Inc. ST: Texas IN: PAP SU: ERN


KK -- CL003 -- 8775 10/12/92 10:11 EDT
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Date:Oct 12, 1992
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