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THOMSON ADVISORY GROUP REPORTS SECOND QUARTER EARNINGS AND DISTRIBUTION

THOMSON ADVISORY GROUP REPORTS SECOND QUARTER EARNINGS AND DISTRIBUTION
 STAMFORD, Conn., July 22 /PRNewswire/ -- Thomson Advisory Group L.P. (NYSE: TAG) today announced earnings for the three months ended June 30, 1992, of $5.5 million or $.55 per unit, on revenues of $12.9 million. This compares to second quarter 1991 earnings of $3.9 million or $.39 per unit on revenues of $10.5 million.
 For the six months ended June 30, 1992, earnings were $11.2 million or $1.12 per unit on revenues of $25.7 million. This compares to earnings of $8.9 million or $.89 per unit on revenues of $22.0 million for the six months ended June 30, 1991. The six-month 1991 figures include a non-recurring increase in first quarter 1991 earnings and revenues of approximately $900,000 and $2.0 million, respectively, representing Thomson Advisory Group L.P.'s complete adoption of accrual accounting for asset management fees.
 The partnership declared a regular second quarter distribution of $.32 per unit plus a special distribution of $.40 per unit for a total of $.72 per unit. The record date for these distributions will be Aug. 1, 1992. Payment date will be Aug. 10, 1992.
 Historically, in addition to regular quarterly distributions, the partnership has made a special distribution annually in February based upon its prior year's operating results. The partnership noted that any future special distributions will depend upon the partnership's operating results and that the timing of any such distributions will be determined by the general partner. Accordingly, any future special distributions may be made more or less frequently than annually.
 In addition, Thomson Advisory Group L.P. reported once again that it faces the prospect of losing a substantial majority of the assets in its Cash Accumulation Trust money market funds upon the expiration of its current contract with Prudential Securities in September 1992. Such contract provides, among other things, that the cash balances of certain Prudential customer accounts are to be invested in Thomson's Cash Accumulation Trust funds. The partnership would expect such a loss of assets to result in a significant decrease in revenue, without a meaningful corresponding decrease in expenses, causing a material adverse impact on the partnership's earnings.
 The partnership noted that $2.5 million of its revenue for the second quarter of 1992 came from Cash Accumulation Trust and approximately 75 percent of the assets in Cash Accumulation Trust during the quarter were assets covered by the contract with Prudential. In addition, approximately 24 percent of the assets in cash accumulation trust in the second quarter of 1992 relate to a special Prudential Securities program (not covered by the Prudential contract), under which Prudential Securities determines the advisor for such assets.
 The partnership announced that Edgar A. Robie Jr., head of the Fixed Income Department of the partnership's Columbus Circle Investors division, has resigned, effective at a date to be agreed upon.
 Thomson Advisory Group L.P. manages the Thomson Fund Group mutual funds, and serves as an advisor to private accounts through its Columbus Circle Investors and Foxhall Investment Management divisions. As of June 30, 1992, Thomson Advisory Group L.P. managed approximately $10.0 billion in assets.
 THOMSON ADVISORY GROUP L.P.
 Summary Consolidated Statements of Income
 (Unaudited, in thousands except per unit amounts)
 Periods ended Three months Six months
 June 30 1992 1991 1992 1991
 Revenues $12,978 $10,528 $25,666 $22,006(A)
 Net income 5,542 3,965 11,188 8,895(A)
 Net income per unit .55 .40 1.12 .89(A)
 Quarterly distribution
 per unit .32 .32 .64 .64
 Special distribution
 per unit .40 -- .40 --
 Total distributions
 per unit(B) .72 .32 1.04 .64
 6/30/92 6/30/91
 Assets under management $10.0 $8.0
 (in billions)
 (A) Includes first quarter 1991 non-recurring item of approximately $2.0 million in revenues and $900,000 in earnings ($.09 per unit), representing complete adoption of accrual accounting for asset management fees.
 (B) Represents distributions paid in arrears with respect to the earnings for the three and six month periods ending June 30, 1992 and 1991, respectively.
 -0- 7/22/92
 /CONTACT: Andrew Meyers of Thomson Advisory Group L.P., 203-352-4940/
 (TAG) CO: Thomson Advisory Group L.P. ST: Connecticut IN: FIN SU: ERN


PS-OS -- NY100 -- 2121 07/22/92 16:45 EDT
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Publication:PR Newswire
Date:Jul 22, 1992
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