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THE GNI GROUP REPORTS SHARPLY HIGHERTHREE AND SIX MONTH FINANCIAL RESULTS

 HOUSTON, Jan. 19 /PRNewswire/ -- The GNI Group, Inc. (NASDAQ: GNUC) reported sharply higher revenues, net income and earnings per share for the three and six months ended Dec. 31, 1992. Net income for the most recent three months was $460,932, or $.09 per share, on revenues of $6,238,046 compared to net income for the three months ended Dec. 31, 1991 of $130,355, or $.03 per share, on revenues of $4,863,716.
 For the six months ended Dec. 31, 1992, net income was $1,027,088, or $.20 per share, on revenues of $12,306,303 compared to net income of $92,004, or $.02 per share, on revenues of $8,540,867 for the same period in 1991.
 The combination of GNI's strategic marketing program and management's commitment to control and/or reduce costs continued to produce significantly improved operating margins. Operating margins were 15 percent and 16 percent in the most recent three and six month periods, compared to 10 percent and 8 percent for the respective periods the previous year.
 Carl V. Rush, Jr., president and chief executive officer, said, "We are especially proud of achieving the best-ever results for a December quarter. Historically, GNI's revenues in this quarter have been negatively impacted by seasonal softness in our treatment and disposal operations; however, business diversification has begun to overcome this seasonality. Revenues from our chemical processing operation continue to increase as the base of repeat business grows. Additionally, current customers are increasing their reliance on our plant for cost-effective and time-effective processing of difficult streams, reclamation and product development. As a result, consideration is being given to making plant enhancements which would increase process capability and capacity."
 The GNI Group, Inc., headquartered in Deer Park, Texas, is an integrated environmental services and custom chemical processing and reclamation company.
 THE GNI GROUP INCORPORATED
 Consolidated Statements of Operations
 (Unaudited)
 Three months ended Dec. 31 1992 1991
 Revenues $6,238,046 $4,863,716
 Operating income 917,078 464,748
 Income before tax 758,526 216,733
 Net income 460,932 130,355
 Net income per share $ .09 $ .03
 Shares used to calculate
 earnings per share 5,227,473 4,440,172
 Six months ended Dec. 31 1992 1991
 Revenues $12,306,303 $8,540,867
 Operating income 2,000,955 648,977
 Income before tax 1,658,644 158,627
 Net income 1,027,088 92,004
 Net income per share $ .20 $ .02
 Shares used to calculate
 earnings per share 5,218,535 4,434,988
 -0- 1/19/93
 /CONTACT: Titus H. Harris, III, executive vice president and CFO of The GNI Group, 713-930-0350; or Pat L. Hoyt of Hoyt & Associates Investor Relations, 713-665-2549, for The GNI Group, Inc./
 (GNUC)


CO: The GNI Group, Inc. ST: Texas IN: SU: ERN

TS -- NY032 -- 6224 01/19/93 10:26 EST
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Date:Jan 19, 1993
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