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UST INC. SURPASSES $1 BILLION IN NET SALES AND POSTS 19 PERCENT INCREASE IN EARNINGS PER SHARE FOR 1992

 GREENWICH, Conn., Jan. 20 /PRNewswire/ -- UST Inc. (NYSE: UST) today announced that net sales for the year ended Dec. 31, 1992, surpassed the $1 billion mark for the first time reaching $1,044.4 million, a 15 percent gain over net sales of $907.3 million in 1991.
 Primary earnings per share for 1992 increased 19 percent to $1.41 per share, compared with $1.18 per share in 1991.
 Net earnings for 1992 rose 18 percent to $312.6 million, vs. $265.9 million in 1991, marking the 32nd consecutive year of net earnings growth for the company.
 Net sales for the fourth quarter of 1992 increased 16 percent to $272.7 million, up from $235.5 million for the corresponding 1991 period. Primary earnings per share for the fourth quarter were up 20 percent to 36 cents per share, compared with 30 cents per share for the fourth quarter of 1991. Net earnings for the fourth quarter of 1992 were $79.9 million, an increase of 21 percent over net earnings of $66.3 million for the similar period in 1991.
 The tobacco and wine segments posted sales gains for both periods while other segment sales increased for the year and remained stable in the fourth quarter.
 Moist smokeless tobacco sales were primarily responsible for the increase in the tobacco segment.
 Domestic unit volume for moist smokeless tobacco products increased 3.7 percent in 1992, to 597.8 million cans, compared with 576.3 million cans for 1991. Fourth quarter unit volume increased 6.2 percent on sales of 152.2 million cans, compared with the similar 1991 period. The fourth quarter of 1992 included one more shipping day. On an equivalent shipping day basis unit volume for the fourth quarter would have increased by 2.9 percent.
 In December 1992, the board of directors of UST announced a 20 percent increase in the quarterly dividend for the first quarter of 1993. The dividend was increased to 24 cents per common share for the first quarter of 1993, with an indicated annual rate of 96 cents.
 UST, through its subsidiaries, is a leading producer and marketer of moist smokeless tobacco products including Copenhagen, Skoal, Skoal Long Cut, and Skoal Bandits. Other consumer products marketed by UST subsidiaries include premium wines sold nationally through the Chateau Ste. Michelle, Columbia Crest, Conn Creek, and Villa Mt. Eden wineries.
 Copenhagen, Skoal, Skoal Long Cut, and Skoal Bandits, Chateau Ste. Michelle, Columbia Crest, Conn Creek and Villa Mt. Eden are registered trademarks of UST subsidiaries.
 UST INC.
 Consolidated Sales and Earnings
 (Unaudited; in thousands, except per-share data)
 Pct.
 Year ended Dec. 31 1992 1991 Change
 Net sales $1,044,416 $907,328 +15
 Costs and expenses:
 Cost of products sold 254,950 226,481 +13
 Selling, advertising and admin. 288,703 257,042 +12
 Interest income, net (1,866) (2,279) -18
 Total costs and expenses 541,787 481,244 +13
 Earnings before income taxes 502,629 426,084 +18
 Income taxes 190,071 160,179 +19
 Net earnings 312,558 265,905 +18
 Earnings per share:
 Primary $1.41 $1.18 +19
 Fully diluted 1.41 1.17 +21
 Cash dividends per common share .80 .66 +21
 Avg. no. of com. shares & equivalents
 outstdg. during the 12-month period:
 Primary 222,033 225,130
 Fully diluted 222,423 228,032
 Pct.
 Fourth quarter 1992 1991 Change
 Net sales $272,740 $235,510 +16
 Costs and expenses:
 Cost of products sold 70,563 63,948 +10
 Selling, advertising and admin. 74,928 66,070 +13
 Interest income, net (574) (612) -6
 Total costs and expenses 144,917 129,406 +12
 Earnings before income taxes 127,823 106,104 +20
 Income taxes 47,944 39,816 +20
 Net earnings 79,879 66,288 +21
 Earnings per share:
 Primary $.36 $.30 +20
 Fully diluted .36 .29 +24
 Cash dividends per common share .20 .16 1/2 +21
 Avg. no. of com. shares & equivalents
 outstdg. during the 12-month period:
 Primary 220,474 224,037
 Fully diluted 220,474 225,488
 -0- 1/20/93
 /CONTACT: Alan Kaiser of UST, 203-622-3549/
 (UST)


CO: UST Inc ST: Connecticut IN: TOB SU: ERN

AH-CK -- NY032 -- 6844 01/20/93 11:31 EST
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Date:Jan 20, 1993
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