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RVM Announces Q2 Sales and Profits

18 November 1997

RVM Continues Sales and Profit Growth in Second-Quarter

    AKRON, Ohio, Nov. 18 -- Chairman and CEO Jacob "Jerry"
Pollock announced today RVM Industries Inc. (OTC BULLETIN BOARD:  RVMI)
increased second-quarter sales by 36 percent, income from operations by
88 percent and pro forma net income by 187 percent over the same period last
year.
    Sales for the second quarter ended Sept. 30 were $20,794,869 compared to
$15,329,290 during the same period last year.  Income from operations was
$1,215,339 compared to $644,813, and pro forma net income was $532,126
compared to $185,482.  For the first six months of the fiscal year, sales were
up 27 percent, income from operations was up 136 percent and pro forma net
income was up 231 percent.
    RVM is a holding company for Ravens Inc., a truck trailer manufacturer
specializing in aluminum trailers; Albex Aluminum Inc., an aluminum extrusion
and billet casting company; and Signs and Blanks Inc., one of the five largest
U.S. manufacturers of blanks and coated signs.
    "Two major contributing factors in our performance improvements were
strong platform trailer sales and the growth Albex achieved," said Pollock.
Albex moved its aluminum extrusion plant from West Virginia to Canton, Ohio,
last year and entered a new market when it constructed a billet casting
facility.  The company is winning back customers who were concerned about
delivery during the move and acquiring new extrusion and billet customers, he
said.
    Ravens is outperforming a strong platform trailer market.  Platform
trailer shipments industry wide were up 24 percent between April 1 and
September 30, 1997, according to estimates by the Truck Trailer Manufacturers
Association.  Platform trailer sales at Ravens, the largest U.S. manufacturer
of aluminum platform trailers, were up 46 percent for the same period.
    Signs and Blanks successfully boosted profits on same-level sales by
focusing on more profitable customers, said Pollock.
    Also during the quarter, RVM secured a line of credit with FirstMerit Bank
that provides up to $15,000,000 for working capital.  The company also secured
a $5,000,000 term loan from FirstMerit for financing fixed assets.


                                        SELECTED FINANCIAL DATA
                                 THREE MONTHS ENDED     SIX MONTHS ENDED
                                     SEPT. 30                SEPT. 30
                                 1997       1996         1997       1996

    NET SALES                $20,794,869 $15,329,290 $39,660,285 $31,275,771
    INCOME FROM OPERATIONS     1,215,339     644,813   2,728,977   1,156,067
    PROVISION FOR INCOME
      TAXES                      315,884     159,200   1,021,782     293,400
    CUMULATIVE EFFECT OF
      ACCOUNTING CHANGE(A)             0           0    (211,651)          0
    NET INCOME                   532,126     128,569     781,526     214,560

    NET INCOME                   532,126     128,569     781,526     214,560
    PRO FORMA INCOME TAX
      BENEFIT                          0      56,913      77,691     108,986
    CUMULATIVE EFFECT OF
      ACCOUNTING CHANGE(A)             0           0     211,651           0
    PRO FORMA NET INCOME         532,126     185,482   1,070,868     323,546
    PRO FORMA NET INCOME
      PER COMMON SHARE              $.27        $.10        $.55        $.17

    (A) -- Reflects change in Albex and SABI fiscal year end from Dec. 31 to
March 31 effective April 1, 1997.

SOURCE  RVM Industries Inc.