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TURNER PREDICTS MODERATE RISE IN THIRD QUARTER CONSTRUCTION COSTS

 NEW YORK, July 22 /PRNewswire/ -- Third quarter construction costs will increase marginally according to a forecast released today by The Turner Corporation (AMEX: TUR), the nation's leading general builder. According to the Turner Building Cost Index released today, the third quarter index will increase three points, from 458 to 461. The predicted rate represents a 0.66 percent rise over the second quarter 1993.
 "Building construction prices will continue to increase at an annual rate of 2-1/2 to 3 percent during the next quarter reflective of an escalation rate that will not significantly change until there is a sustainable pick up in building construction activity," said Frank Basius, the Turner senior group vice president responsible for calculating the Turner Building Cost Index.
 Turner has made its quarterly forecast for more than 50 years. Used widely by the construction industry and the Federal and state governments, the building costs and price trends tracked by the Turner Building Cost Index may or may not reflect regional conditions in any given quarter. In fact, regional conditions often vary from composite trends.
 Based in New York City, The Turner Corporation, through Turner Construction Company and other construction subsidiaries, is the nation's leading builder of healthcare, institutional, retail, commercial, industrial, manufacturing, interiors, biotech/pharmaceutical, research and development/laboratories, government building and multi-unit housing projects. Operating through more than 35 offices, Turner has construction projects underway throughout the United States and abroad. During 1992, The Turner Corporation completed $2.6 billion of construction.
 -0- 7/22/93
 /CONTACT: Beverly A. Benn of Turner, 212-229-6157/


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Date:Jul 22, 1993
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