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U.S. PAWN REPORTS RECORD EARNINGS IN THIRD QUARTER

 U.S. PAWN REPORTS RECORD EARNINGS IN THIRD QUARTER
 DENVER, Aug. 6 /PRNewswire/ -- U.S. Pawn (NASDAQ: USPN) today


announced results for its third quarter ended June 30, 1992, which included a 154-percent gain in net income over the year-earlier quarter. Net income was $127,000 vs. $50,000.
 Revenues for the quarter totalled $1,463,000, up 72 percent, compared to $851,000 in the June 30, 1991 quarter, reflecting the increase from five to seven pawnshops in fiscal 1992.
 Net earnings per share were one cent in each quarter as outstanding shares increased by 36 percent. There were 10,144,000 weighted average shares in this quarter and 7,425,000 in the year-earlier quarter.
 For the nine months, U.S. Pawn's net earnings rose 88 percent to $361,000 from $192,000. Revenues rose to $4,095,000, up 54 percent from $2,658,000 a year earlier.
 Per-share earnings doubled to four cents on 8,987,000 weighted average shares. This compares to two cents with 7,352,000 weighted average shares outstanding in the year-earlier nine months.
 "Looking forward, we see the addition of one more store by the end of September 1992 for a total of eight stores," said Melvin Wedgle, chairman. "This means the store will contribute to revenues at the start of the new year."
 "Our average loan is now $77.00, far exceeding the $55.00 average for the pawn industry. Our inventory turnover rate remains above four times a year, greater than the average for the industry. We are also aggressively advertising and marketing our company and individual shops to maintain U.S. Pawn's competitive edge," he added.
 "The balance sheet continues to show strength as of June 30, 1992, with a current ratio of 3.78 to one, working capital close to $3 million, and long term debt and liabilities remaining under $1,500,000. We remain optimistic about our growth strategy and are on target with our pawn loans increasing 40 percent to $2,021,000 in fiscal 1992 from $1,436,000," Wedgle concluded.
 U.S. Pawn is the largest public pawn broker based in Colorado. The company lends money on a variety of goods; including jewelry, electronics, musical instruments, cars, and boats. U.S. Pawn may sell an item after a pawn loan defaults.
 U.S. PAWN, INC.
 Balance Sheets Highlights
 June 30, 1992
 Cash $ 183,335
 Pawn Loans 2,021,161
 Inventory, net 735,414
 Other Current Assets 760,303
 Equipment and leaseholds at cost, net 745,460
 Loan receivable-related parties 68,913
 Other Assets 245,648
 TOTAL $4,760,234
 Current Liabilities $ 977,259
 Long-term Liabilities 412,462
 Stockholders' Equity 3,370,513
 TOTAL $4,760,234
 U.S. PAWN, INC.
 Statement of Operations
 (Unaudited)
 Three Months Ended June 30, Nine Months Ended June 30,
 1992 1991 1992 1991
 Revenues:
 Sales $ 712,719 $ 418,889 $2,071,431 $1,475,986
 Pawn
 charges 714,860 395,993 1,892,943 1,069,262
 Other Income 35,319 36,369 130,804 112,284
 Total
 Revenue 1,462,898 851,251 4,095,178 2,657,532
 Cost of Goods Sold &
 Expenses:
 Cost of goods
 sold 636,825 322,742 1,695,774 1,126,397
 General operating
 expenses 358,802 219,396 991,094 531,358
 Corporate
 overhead 279,386 190,480 828,029 524,970
 Interest 43,951 40,631 139,954 102,142
 Depreciation 16,871 28,085 79,503 80,619
 Total cost of
 sales and
 expenses 1,335,835 801,334 3,734,352 2,465,486
 Income from Operations
 Before
 Income Taxes 127,063 49,917 360,826 192,046
 Provision For
 Income Taxes 0 0 0 0
 Net Income $ 127,063 $ 49,917 $ 360,826 $ 192,046
 Earnings Per Share:
 Net
 income $ 127,063 $ 49,917 $ 360,826 $ 192,046
 Preferred stock
 dividend $ (8,979) $ (8,979) $ (26,936) $ (26,936)
 Common share
 earnings $ 118,084 $ 40,938 $ 333,890 $ 165,110
 Earnings Per
 Share $ 0.01 $ 0.01 $ 0.04 $ 0.02
 Weighted Avg. Shares
 Outstndng. 10,144,622 7,425,574 8,987,126 7,352,040
 -0- 8/6/92
 /CONTACT: Fred Baker, CFO, U.S. Pawn, 303-571-4704; or Woody Wallace, 708-564-5610, Bruce Marcus, 212-580-0703, Earle Brown, 813-796-1452, or Tim King, 213-541-4415, all of The Investor Relations Company, for U.S. Pawn, Inc./
 (USPN) CO: U.S. Pawn, Inc. ST: Colorado IN: SU: ERN


JG -- DE023 -- 7572 08/06/92 11:44 EDT
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Date:Aug 6, 1992
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