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WESTINGHOUSE CREDIT REPORTS THIRD-QUARTER RESULTS

 WESTINGHOUSE CREDIT REPORTS THIRD-QUARTER RESULTS
 PITTSBURGH, Oct. 12 /PRNewswire/ -- Westinghouse Credit Corporation


incurred a net loss of $99 million for the three months ended Sept. 30, 1992.
 Revenues were $145 million. For the same period of 1991, the net loss incurred was $1,122 million, which resulted primarily from the $1,674 million provision for losses announced in October 1991. Revenues for 1991 were $235 million.
 For the first nine months of 1992, Westinghouse Credit had a net loss of $92 million and revenues of $513 million, compared to a net loss of $1,081 million and revenues of $758 million for the same period of 1991.
 Robert A. Watson, president and chief executive officer, said, "The 1992 results for the quarter and year-to-date reflect a third-quarter provision for losses of $155 million. The majority of the provision, $100 million, pertains to investments in Phar-Mor, Inc. and the settlement of the suit filed by a mutual fund, related to its March purchase of Phar-Mor stock from Westinghouse Credit." In August, Phar-Mor filed for Chapter 11 bankruptcy protection shortly after it disclosed an alleged fraud and embezzlement scheme by certain former members of its management. The remainder of the provision was an addition to credit reserves for other accounts.
 Watson said the net losses for both periods of 1992 also reflects reduced interest margins, partially offset by equity gains for the nine-month period. He attributed the reduced revenues for both 1992 periods to lower asset levels and lower yields due to a lower percentage of earning assets in the portfolio and reduced interest rates.
 Westinghouse Credit is the principal unit of Westinghouse Financial Services, Inc., which is owned by Westinghouse Electric Corporation (NYSE: WX).
 WESTINGHOUSE CREDIT CORPORATION
 Selected Financial Data
 (in thousands, unaudited)
 Three months ended Sept. 30, 1992 1991
 Revenues $ 144,800 $ 235,466
 Loss before income taxes $ (155,249) $ (1,679,265)
 Net loss $ (98,652) $ (1,121,876)
 Nine months ended Sept. 30,
 Revenues $ 512,717 $ 757,672
 Loss before income taxes $ (156,285) $ (1,632,721)
 Net loss $ (92,362) $ (1,081,250)
 At Sept. 30, At Dec. 31,
 1992 1991
 (in millions) (unaudited)
 Assets $ 8,275 $ 8,573
 Debt $ 6,784 $ 7,030
 Shareholders' Equity $ 1,033 $ 1,062
 Assets Held for Investment
 Receivables $ 4,740 $ 5,139
 Allowance for credit losses (314) (345)
 Other investments 588 479
 Assets held for investment, net 5,014 5,273
 Assets Held for Sale or Restructuring
 Receivables 1,938 2,910
 Other investments 1,248 877
 Valuation allowance (883) (1,616)
 Assets held for sale or
 restructuring, net 2,303 2,171
 Total Portfolio Investments $ 7,317 $ 7,444
 Investing Commitments with
 Off-Balance-Sheet Credit Risk $ 1,746 $ 2,814
 Nonearning Receivables $ 1,380 $ 1,485
 Reduced Earning Receivables $ 968 $ 1,065
 Real Estate Owned $ 685 $ 615
 -0- 10/12/92
 /CONTACT: Brad Hemstreet of Westinghouse Credit, 412-393-3232/
 (WX) CO: Westinghouse Credit Corporation; Westinghouse Financial Services,
 Inc.; Westinghouse Electric Corporation ST: Pennsylvania IN: FIN SU: ERN


CD -- PG011 -- 8941 10/12/92 16:05 EDT
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Date:Oct 12, 1992
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