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TOUCHSTONE APPLIED SCIENCE ASSOCIATES REPORTS RESULTS

 BREWSTER, N.Y., March 26 /PRNewswire/ -- Touchstone Applied Science Associates, Inc. (NASDAQ: TASA) filed its Form 10-Q for its first quarter that ended Jan. 31, 1993.
 Despite continuing recession in education, operating revenues from sales of tests increased from $662,652 in first quarter 1992 to $675,429 in first quarter 1993.
 Net income after taxes increased 20 percent from $211,418 in first quarter 1992 to $254,523 in first quarter 1993.
 The increase in after tax profits resulted mostly from a reduction in costs for doing research and development for others -- a discontinued business activity.
 TOUCHSTONE APPLIED SCIENCE ASSOCIATES (TASA(R)), INC.
 Financial Summary
 (Dollars in thousands, except per share data)
 Periods Ended Three Months
 January 31, 1993 1992 Pct. Change
 Operating revenues 675.4 662.7 2
 Grant & contract
 research(A) -- 14.4 N/A
 Net income 254.5 211.4 20
 Weighted average
 number of shares
 outstanding 3,209.0 1,700.0 89
 Earnings per share(B) 0.08 0.13 --
 NOTES: (A) Company no longer does contract research for others.
 (B) Adversely affected by increase in number of outstanding
 shares.
 -0- 3/26/93
 /CONTACT: Andrew L. Simon of TASA, 914-277-8100/
 (TASA)


CO: Touchstone Applied Science Associates, Inc. ST: New York IN: MCT SU: ERN

LD-TM -- NY004 -- 9986 03/26/93 10:00 EST
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Date:Mar 26, 1993
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