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THE LVI GROUP REPORTS RESULTS FOR YEAR ENDED DECEMBER 31, 1992

 NEW YORK, March 30 /PRNewswire/ -- The LVI Group Inc. (NYSE: LVI) today reported a net loss applicable to common stock of $403,000, or $.04 per share, for calendar year 1992, as compared to a net loss applicable to common stock of $39,002,000, or $.4.44 in 1991. Per share information reflects a 35-for-1 reverse split of the company's common stock which occurred in December, 1991. Included in the calendar year 1991 results is a loss of $46,150,000 from discontinued operations and a gain of $13,293,000 on early extinguishment of debt. Revenues earned for 1992 were $42,674,000, an increase of $896,000 from the year ended Dec. 31, 1991. For the years ended Dec. 31, 1992 and 1991, there were 10,963,000 and 8,782,000 weighted average number of shares outstanding, respectively.
 For the fourth quarter ended Dec. 31, 1992, revenues increased slightly to $11,533,000, compared to $11,455,000 for the fourth quarter of 1991. A net loss applicable to common stock for the quarter was $789,000, or $.07 per share, compared to net income applicable to common stock of $1,181,000, (which included income of $1,871,000 from discontinued operations), or $.11 per share, for the fourth quarter 1991. Results for the fourth quarter of 1992 reflect lower gross profit margins in the asbestos abatement business and a loss for the quarter in the electrical supply distribution business.
 On Feb. 26, 1993, the company announced that it had reached a definitive agreement on a restructuring proposal with representatives of certain holders of the outstanding Class A and Class Senior Secured Redeemable Notes (the "Notes") of NICO, Inc., the company's principal wholly-owned subsidiary. The closing is contingent upon participation by holders of at least 95 percent of the outstanding principal amount of each class of notes and the satisfaction of certain conditions and, therefore, no assurance can be given that the proposed restructuring, which is scheduled to close in April, 1993, will be effected.
 THE LVI GROUP INC. AND SUBSIDIARIES
 Condensed Consolidated Statement of Operations
 (Unaudited Financial Summary)
 Periods ended Year Quarter
 Dec. 31, 1992 1991 1992 1991
 Revenues earned $42,674,000 $41,778,000 $11,533,000 $11,455,000
 Operating income
 (loss) 404,000 (2,449,000) (540,000) (236,000)
 Loss from continuing
 operations before
 extraordinary item (403,000) (6,145,000) (789,000) (690,000)
 Income (loss) from
 discontinued operations -- (46,150,000) -- 1,871,000
 Income (loss) before
 extraordinary item (403,000)(52,295,000) (789,000) 1,181,000
 Extraordinary item:
 Gain on early
 extinguishment of debt -- 13,293,000 -- --
 Net income (loss)
 applicable to
 common stock (403,000)(39,002,000) (789,000) 1,181,000
 Net income (loss)
 per common share:
 From continuing
 operations before
 extraordinary item (.04) (.70) (.07) (.06)
 From discontinued
 operations -- (5.25) -- .17
 From early extinguishment
 of debt -- 1.51 -- --
 Total (.04) (4.44) (.07) .11
 Weighted average number
 of common shares
 outstanding 10,963,000 8,782,000 10,963,000 10,955,000
 Net income (loss) per common share is calculated by dividing net income (loss) applicable to common stock by the weighted average number of common shares outstanding during the periods. For the year and quarter ended Dec. 31, 1991, the weighted average number of common shares outstanding have been adjusted to reflect a 31 to 1 reverse stock split which occurred in December 1991. Fully diluted earnings per share is not shown since the effect would be insignificant for each of the periods.
 -0- 3/30/93
 /CONTACT: Burton T. Fried, president of The LVI Group, 212-951-3660/
 (LVI)


CO: LVI Group Inc. ST: New York IN: CST SU: ERN

LD-KW -- NY091 -- 1255 03/30/93 17:47 EST
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Date:Mar 30, 1993
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