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WHITMAN REPORTS RESULTS

 WHITMAN REPORTS RESULTS
 CHICAGO, Oct. 13 /PRNewswire/ -- Whitman Corp. (NYSE: WH) reported


income from continuing operations of $35 million, or 33 cents a share, in the third quarter, equal to earnings in the third quarter of 1991. Sales were up nearly 2 percent to $662.6 million.
 In the third quarter, Whitman took a charge of $32.3 million against discontinued operations, principally representing costs of litigation related to the disposition of Hussmann's food service equipment business in 1989 (Details available in Note 1 to Consolidated Income Statement, which can be obtained by calling contact number below). As a result, the company reported net income of $2.7 million, or 3 cents a share, for the quarter, compared to $35 million, or 33 cents a share, in the third quarter of 1991.
 NINE MONTH RESULTS
 For the first nine months of the year, income from continuing operations was up 15 percent over last year to $65.7 million, or 61 cents a share. Sales totaled $1.8 billion, up 1.6 percent over last year.
 Net income for the nine months was $33.4 million, or 31 cents a share, reflecting the charge to discontinued operations, compared to $74.2 million, or 70 cents a share last year, when the company reported earnings from discontinued Pet operations.
 Brusce S. Chelberg, chairman and chief executive officer, said, "We had a good performance by our operating companies in the third quarter. Hussmann set records for earnings, while Pepsi-Cola General Bottlers and Midas did well despite the poor economy in the U.S. and Canada, aggressive price competition, and unseasonably cold weather.
 "Year-to-date we have realized significant improvements in earnings from our continuing operations and in our cash flow. And we have continued to implement the strategies designed to improve our operating efficiencies and long-term prospects."
 OPERATING COMPANY RESULTS
 In the third quarter, Pepsi-Cola General Bottlers had operating earnings of $42.4 million, down from $44.8 million a year ago. Sales were $313.8 million, compared to $314.8 million a year ago. The third quarter results included an increase in bad debt reserves of $1.9 million to cover receivables from Phar-Mor, a customer which recently filed for bankruptcy.
 In addition, Pepsi General was adversely affected by an unseasonably cool summer and aggressive price competition by competitors in some markets. However, operating margins for the quarter, excluding the Phar-Mor charge, again exceeded 14 percent, primarily as a result of Pepsi General's ongoing cost containment and productivity programs.
 Midas' operating earnings were $24.6 million for the quarter, down $1.3 million from the same period last year largely because of the continuing recession in the Northeast section of the United States, California, and Canada, which has depressed the industry's retail sales.
 Hussmann reported record earnings of $25 million, up 8.7 percent over last year. Sales increased 5.1 percent to $215.2 million. The results reflect improved performances in the United States and Mexico, and the continuing benefits of Hussmann's ongoing productivity improvement programs.
 -0- 10/13/92
 /CONTACT: Whitman Corp., Corporate Affairs Department, 708-818-5015/
 (WH) CO: Whitman Corp. ST: Illinois IN: FOD SU: ERN


PS -- NY051 -- 9344 10/13/92 12:55 EDT
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Date:Oct 13, 1992
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