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TEMPLE-INLAND SECOND QUARTER 1992 EARNINGS UP

 TEMPLE-INLAND SECOND QUARTER 1992 EARNINGS UP
 DIBOLL, Texas, July 13 /PR Newswire/ -- Temple-Inland Inc.


(NYSE: TIN) today reported earnings of $.85 per share for the second quarter of 1992, up from $.74 per share in the second quarter last year. Second quarter earnings per share were up 35 percent from the first quarter's level of this year.
 Operating earnings for the second quarter totaled $71.7 million, up from $59.5 million in the comparable 1991 quarter.
 For the first six months, earnings per share were $1.48, compared with $1.50 in the first half of 1991.
 All operating groups, with the exception of bleached paperboard, had improved earnings over last year, with the container and containerboard and building products groups showing marked improvement.
 Temple-Inland's container and containerboard group had earnings of $31.5 million, up from $14.2 million in the second quarter last year. Strong demand for corrugated boxes, record mill production and lower operating costs at both the mill and box plant level, all contributed to this improvement. Pricing was somewhat better than last year following 1991's fall price increase.
 Bleached paperboard's earnings of $10.0 million were substantially below second quarter 1991 earnings of $24.6 million. During a scheduled maintenance mill outage this quarter, certain construction projects related to the new hardwood pulp line, as well as several maintenance projects, were completed. As a result of this outage, production was approximately 16,000 tons below normal. Demand for our bleached paperboard products strengthened during the quarter and mill production improved. However, demand for paperboard products was below last year's level and the mix of products included more market pulp. Although lower than a year earlier, market pulp margins did improve during the quarter.
 The second quarter, which initially enjoyed strong pricing and good demand, enabled the building products group to post earnings of $12.1 million, substantially above 1991's second quarter of $3.2 million. Pricing for lumber and plywood, which began the quarter at very high levels, weakened during the quarter, but remained ahead of last year's levels. Pricing for particleboard and fiberboard strengthened during the quarter, helping to offset the weakness in lumber and plywood.
 The financial services group continues to produce record results, earning $18 million in the second quarter, up six percent from $17 million in the second quarter of 1991. This also marks the tenth consecutive quarter of positive year-to-year comparisons. While moderating somewhat from first quarter levels, mortgage loan originations totaled almost $700 million for the quarter, and the mortgage banking operation made a larger-than-anticipated earnings contribution.
 In announcing second quarter results, Clifford J. Grum, Temple-Inland chairman and chief executive officer, said, "After five quarters of negative comparisons, it is a pleasure to announce this quarter's earnings. If the economy continues to recover, we are confident that earnings will improve over the balance of the year."
 TEMPLE-INLAND INC. AND SUBSIDIARIES
 (UNAUDITED)
 (in thousands, except per share amounts)
 Second Quarter First Six Months
 1992 1991 1992 1991
 Total Revenues $684,400 $618,300 $1,342,400 $1,225,200
 Manufacturing Net
 Sales 523,500 485,800 1,009,000 953,800
 Net income 47,700 40,600 82,500 82,700
 Earnings per share .85 .74 1.48 1.50
 Weighted avg. shares
 outstanding 55,582 55,255 55,585 55,165
 Business Segments
 Revenues
 Container and
 containerboard $319,000 $290,100 $615,100 $579,800
 Bleached paperboard 85,800 95,300 177,300 191,500
 Building products 101,500 83,100 190,100 148,800
 Other activities 17,200 17,300 26,500 33,700
 Manufacturing net
 sales 523,500 485,800 1,009,000 953,800
 Financial Services 160,900 132,500 333,400 271,400
 Total Revenues 684,400 618,300 1,342,400 1,225,200
 Income
 Container and
 containerboard $31,500 $14,200 $56,800 $36,300
 Bleached paperboard 10,000 24,600 16,000 50,100
 Building products 12,100 3,200 20,300 (1,200)
 Other activities 100 500 (400) (600)
 Operating Profit 53,700 42,500 92,700 85,800
 Financial Services 18,000 17,000 37,200 29,400
 Combined operating
 earnings 71,700 59,500 129,900 115,200
 Corporate expenses (4,100) (4,300) (8,300) (8,200)
 Parent company
 interest - net (10,800) (8,100) (22,300) (11,400)
 Other Income 700 1,800 100 4,100
 Income before taxes 57,500 48,900 99,400 99,700
 Taxes on Income 9,800 8,300 16,900 17,000
 Net Income $47,700 $40,600 $82,500 $82,700
 -0- 7/13/92
 /CONTACT: C. Lynn Pavlic of Temple-Inland, Inc., 409-829-1378/
 (TIN) CO: Temple-Inland Inc. ST: Texas IN: PAP SU: ERN


BM -- CL006 -- 8549 07/13/92 10:22 EDT
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