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Northport Industries Inc. Summary of Historical Results of Operations

12 November 1998

Northport Industries Inc. Summary of Historical Results of Operations Three Months Ended Sept. 30, 1998, Unaudited, and 1997

    DEL RIO, Texas--Nov. 11, 1998--Northport Industries Inc. (OTC BB:PESO) is declaring a loss of $79,559 for the third quarter of 1998.
    The reasons for the loss are twofold. Our Automotive Division was affected by the General Motors strike. Our sales for our Automotive Division came in at 30% of the sales forecast. Secondly, our largest customer, Evenflo, changed its inventory practices during this same period of time, which also resulted in a reduction in sales for the Juvenile Division. Our actual sales to forecast for the Juvenile Division were 70% of plan because of this change. Fortunately, we believe that we will exceed our forecast for the fourth quarter.

                     3rd Qtr. '98   3rd Qtr. '97  YTD '98    YTD '97

Revenues                664,360        548,356   2,796,611  1,272,558
Cost of Goods Sold      467,292         90,499   1,663,524  1,217,918    
Operating Expenses      103,056        326,605     340,805    226,302   
General & 
 Administrative         170,871        106,809     714,208    284,425
Operating Income        (76,859)        24,443      78,074   (456,087)
Interest Expense 
  (Income)                2,700         18,550     (27,794)    54,315
Earnings Before 
 Income Tax             (79,559)         5,893     105,868   (510,402)
 

Except for historical information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to risks and uncertainties, including government regulation and taxation, spending, competition, general economic conditions and other risk factors.