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WARNER INSURANCE SERVICES ANNOUNCES RESULTS FOR THREE MONTHS ENDED JULY 31, 1992

 WARNER INSURANCE SERVICES ANNOUNCES RESULTS
 FOR THREE MONTHS ENDED JULY 31, 1992
 FAIR LAWN, N.J., Aug. 18 /PRNewswire/ -- Warner Insurance Services, Inc. (NYSE: WCP) today announced revenues and net income for the quarter ended July 31, 1992.
 For the three months ended July 31, 1992, revenues totalled $23,144,209 as compared to $14,133,912 in the same period of 1991. Subcontracted claims services (representing flow-through activity with no impact on profit) contributed $10,263,769 to revenues in the 1992 quarter as compared to $6,395,943 in the prior year. Net income for the quarter was $888,356 ($.12 per share) compared to $468,301 ($.07 per share) in the third quarter of 1991. Pretax margins (excluding subcontracted claims services) increased to 12.0 percent in the third quarter of 1992 from 10.5 percent in the third quarter of 1991. For the nine months ended July 31, 1992, revenues totalled $64,524,264 as compared to $37,438,107 in the same period of 1991; of that, subcontracted claims services revenues totalled $28,779,959 in 1992 and $16,108,900 in 1991. Net income for the nine months was $2,302,461 ($.32 per share) compared to $1,100,430 ($.16 per share) in the 1991 period.
 Harvey Krieger, president and chairman of the board of directors, stated that the record revenues and continuing growth in earnings are the result of continuing successes realized by the company in servicing the auto insurance industry, particularly in New Jersey. Krieger said that the company is pleased with the rapid growth in activity under contracts with insurance companies serving the voluntary auto insurance market in New Jersey, and the company expects this growth trend to continue.
 Warner Insurance Services, Inc., a New York Stock Exchange company, is a full service provider of services to the automobile insurance industry including underwriting, policy maintenance and claims adjustment.
 The following is a summary of operating highlights for the three and nine months ended July 31, 1992 and 1991:
 WARNER INSURANCE SERVICES, INC. AND SUBSIDIARIES
 Operating Highlights
 (Unaudited)
 Periods ended Three Months Nine Months
 July 31, 1992 1991 1992 1991
 REVENUES:
 Insurance services
 revenue $12,880,440 $7,737,969 $35,744,305 $21,329,207
 Subcontracted
 claims servicing
 revenue 10,263,769 6,395,943 28,779,959 16,108,900
 Totals 23,144,209 14,133,912 64,524,264 37,438,107
 COSTS AND EXPENSES:
 S,G&A expenses 11,335,474 6,923,468 31,740,026 19,415,377
 Subcontracted claims
 services 10,263,769 6,395,943 28,779,959 16,108,900
 Total 21,599,243 13,319,411 60,519,985 35,524,277
 Income before
 income taxes 1,544,966 814,501 4,004,279 1,913,830
 Income taxes 656,610 346,200 1,701,818 813,400
 Net income $888,356 $468,301 $2,302,461 $ 1,100,430
 Net income
 per share(A) $0.12 $0.07 $0.32 $0.16
 Weighted aver. no.
 of common shares
 outstanding(A) 7,271,625 7,003,778 7,235,726 6,982,531
 (A) Based on the increased number of shares giving retroactive effect to the five percent (5 percent) stock dividend declared on Dec. 19, 1991.
 -0- 8/18/92
 /CONTACT: Bradley J. Hughes, vice president-finance and administration of Warner Insurance Services, 201-794-4817/
 (WCP) CO: Warner Insurance Services, Inc. ST: New Jersey IN: INS SU: ERN


SM -- NY020 -- 0870 08/18/92 10:19 EDT
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Date:Aug 18, 1992
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