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THE COLONIAL GROUP, INC. RELEASES EARNINGS

 THE COLONIAL GROUP, INC. RELEASES EARNINGS
 BOSTON, Oct. 14 /PRNewswire/ -- The Colonial Group, Inc.


(NASDAQ: COGRA) announced today earnings and revenues for the third quarter of 1992. Earnings
 For the three months ended Sept. 30, 1992, earnings totaled $4 million. This represents an increase of $0.9 million or 29 percent compared to $3.1 million earned for the same period last year. Revenues
 Revenues were $27.5 million for the third quarter of 1992. This represents an increase of $4.8 million or 21 percent compared to revenues of $22.7 million for the same period last year. Earnings per Share
 Earnings per share were were 55 cents for the third quarter this year vs. 41 cents for the same period last year.
 Chairman and Chief Executive Officer, John A. McNeice, Jr. made these comments:
 "We experienced an excellent third quarter. Our mutual fund sales increased 98 percent from $486 million last year to $963 million. Our profit margin improved as assets under management increased 22 percent to $10.8 billion.
 THE COLONIAL GROUP, INC.
 Summary of Results of Operation
 (in thousands, except per share amounts)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues $27,500 $22,727 $78,075 $65,299
 Operating expenses 21,031 17,856 60,851 51,778
 Operating income 6,469 4,871 17,224 13,521
 Net interest income 240 447 1,001 1,439
 Income before provision
 for income taxes 6,709 5,318 18,225 14,960
 Provision for income taxes 2,682 2,187 7,257 5,895
 Net income $4,027 $3,131 $10,968 $9,065
 Net income per share 55 cents 41 cents $1.45 $1.16
 -0- 10/14/92
 /CONTACT: Davey Scoon of The Colonial Group, 617-426-3750/
 (COGRA) CO: The Colonial Group ST: Massachusetts IN: FIN SU: ERN


TM -- NE014 -- 9914 10/14/92 13:25 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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