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UST POSTS 15 PERCENT INCREASE IN THIRD QUARTER EARNINGS PER SHARE

 UST POSTS 15 PERCENT INCREASE IN THIRD QUARTER EARNINGS PER SHARE
 GREENWICH, Conn., Oct. 19 /PRNewswire/ -- UST Inc. (NYSE: UST) today announced that primary earnings per share for the third quarter ended Sept. 30 increased 15 percent to 38 cents per share, compared with 3e?nts per share for the similar 1991 period. Primary earnings per share for the first nine months of 1992 rose 18 percent to $1.05 per share, vs. 89 cents per share for the corresponding 1991 period.
 Third quarter net earnings were $84.7 million, a 15 percent gain over $73.4 million for the similar 1991 period. For the first nine months of 1992, net earnings rose 17 percent to $232.7 million, compared with $199.6 million for the corresponding 1991 period.
 Net sales for the third quarter increased 10 percent to $273 million, vs. $247.5 million for the similar 1991 period. For the first nine months of 1992 net sales rose 15 percent to $771.7 million, compared with $671.8 million for the corresponding period in 1991.
 The tobacco, wine and other segments posted sales gains for the third quarter and nine-month period. Moist smokeless tobacco sales were primarily responsible for the increase in the tobacco segment.
 Domestic unit volume for moist smokeless tobacco products decreased .2 percent to 153.9 million cans in the third quarter and increased 2.9 percent to 445.6 million cans for the first nine months of 1992, compared with the similar periods in 1991. The third quarter and nine months of 1992 included one less shipping day as compared to the similar periods in the prior year. On an equivalent shipping day basis unit volume would have increased 4.3 percent for the third quarter and 4.6 percent for the nine-month period.
 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.
 NOTE: Copenhagen, Skoal, Skoal Long Cut, 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)
 Third quarter 1992 1991 Pct. Change
 Net sales $272,994 $247,496 +10
 Costs and expenses:
 Cost of products sold 65,209 61,853 + 5
 Selling, advertising and admin. 71,866 68,444 + 5
 Interest income, net (362) (546) -34
 Total costs and expenses 136,713 129,751 + 5
 Earnings before income taxes 136,281 117,745 +16
 Income taxes 51,545 44,305 +16
 Net earnings 84,736 73,440 +15
 Earnings per share:
 Primary $.38 $.33 +15
 Fully diluted .38 .33 +15
 Cash dividends per common share .20 .165 +21
 Average number of common shares and
 equivalents outstanding during the
 three-month period:
 Primary 221,223 224,501
 Fully diluted 221,506 224,756
 Nine months ended Sept. 30 1992 1991 Pct. Change
 Net sales $771,676 $671,818 +15
 Costs and expenses:
 Cost of products sold 184,387 162,533 +13
 Selling, advertising and admin. 213,775 190,972 +12
 Interest income, net (1,292) (1,667) -22
 Total costs and expenses 396,870 351,838 +13
 Earnings before income taxes 374,806 319,980 +17
 Income taxes 142,127 120,363 +18
 Net earnings 232,679 199,617 +17
 Earnings per share:
 Primary $1.05 $.89 +18
 Fully diluted 1.04 .88 +18
 Cash dividends per common share .60 .495 +21
 Average number of common shares and
 equivalents outstanding during the
 nine-month period:
 Primary 222,554 225,498
 Fully diluted 223,070 226,330
 -0- 10/19/92 R
 /CONTACT: David Schutzman of UST, 203-622-3479/
 (UST) CO: UST Inc. ST: Connecticut IN: TOB SU: ERN


GK-CK -- NY049R -- 1692 10/19/92 14:12 EDT
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Date:Oct 19, 1992
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