---

The Colonel's International, Inc. Announces Change in Equity Position

21 October 1997

The Colonel's International, Inc. Announces Change in Equity Position

    MILAN, Mich., Oct. 21 -- The Colonel's International, Inc.
is correcting its press release dated October 10, 1997 where it
stated that, "Donald and Patsy Williamson agreed to sell 20,817,780 shares
back to the Colonel's for $5,000,000 to be paid during 1998."  The correct
number of shares should be 20,817,080.
    The sale will leave the Willliamsons with 2,750,000 shares and reduce
their ownership from 97% to 82%.  The Company's total outstanding shares will
be reduced from 24,177,805 to 3,360,725.  The Company believes that the large
percentage of ownership held by Donald and Patsy Williamson has hampered the
trading of its stock.
    In addition the Company stated that, "The restructuring will help
investors better understand the Company's valuation.  The Williamsons have
sacrificed their equity position and dilution of ownership in an effort to
make the company more attractive to additional equity interest by giving the
Non-Williamson shares a higher ownership position.  Even though the number of
shares available in the public float has not changed, the change in equity
position by the Williamsons will make these shares more valuable because they
represent a larger ownership interest.
    The release stated that, "The Company was concerned by the over valuation
of its stock ...."  The fact that the Williamsons voluntarily sold their stock
back to the Company for an under market price, should not be conceived that
the present stock price is "over valued."  With the current stock price and
equity change, the Company is now extremely under valued.  In fact, the
Company believes that over time the stock price under the new equity structure
will increase to reflect the true value of the Company.  Earnings per share
for the first six months of 1997 will go from $0.07 per share to $0.53 per
share.
    The Colonel's International, Inc. is based in Milan, Michigan, and through
its subsidiaries is a manufacturer and distributor of Truck Bedliners, a
domestic manufacturer of plastic replacement bumpers and facias for the
aftermarket industry in North America and owns and operates a multipurpose
motor sports facility.

SOURCE  The Colonel's International, Inc.