Outlook for Corporate Earnings….First Call Offers Insight On the Market Volitility

Business Wire, Jan 20, 1999

BOSTON--(BUSINESS WIRE)--Jan. 20, 1999--First Call Corp., a division of Thomson Financial Services, is your source for earnings estimate information during the busy January reporting period. First Call offers members of the business and financial media commentary and assistance from Chuck Hill, director of research, and First Call's research staff.

The research group at First Call Corp., continues to expect significant downward revisions in the first half of 1999 earnings. The five key factors that contributed to soft earnings during the fourth quarter of 1998 are likely to continue in the first half of 1999. These are listed below: -0-

     --The continuing weakness in the Japanese economy.

     --The spread of economic malaise to Latin America, particularly
       Brazil.

     --Increasing pressure from imports spreading to industries other
       than the steel industry, where it existed in 3Q98.

     --Cutbacks in capital spending by US companies -- this was
       evident in some capital equipment industries in 3Q98, but is
       expected to deepen and spread to other areas.

     --Margin pressure for some companies due to rising wage increases
       and an inability to raise prices.

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For information regarding access to First Call's consensus estimates or additional market insight, please call:

Kim Devine, public relations specialist -- 617-856-1258 or

kimberly.devine@tfn.com Chuck Hill, director of research -- 617-856-2459