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Redlaw Industries Inc. Reports Finanacial Results

16 November 1998

Redlaw Industries Inc.

    MISSISSAUGA, ON, Nov. 13 /CNW-PRN/ - The financial results of Redlaw
Industries Inc. of Mississauga, Ontario for the first six months of fiscal
1999 ended September 30, 1998 were today released by the company. All dollars
quoted are Canadian.
    Loss from continuing operations for the first six months of fiscal 1999
was $1,414,000 or 31 cents per share which was increased by a provision for
discontinued operations' costs of $98,000 or 2 cents per share to bring final
results to a loss of $1,512,000 or 33 cents per share. This compares to a loss
from continuing operations for the same period last year of $3,105,000 or 74
cents per share which was increased by a provision for discontinued
operations' costs of $93,000 or 2 cents per share to bring final results for
that period to a loss of $3,198,000 or 76 cents per share.
    Loss from continuing operations for the second quarter was $648,000 or 14
cents per share which was increased by a provision for discontinued
operations' costs of $49,000 or 1 cent per share to bring final results for
the quarter to a loss of $697,000 or 15 cents per share. This compares to a
loss from continuing operations of $3,493,000 or 83 cents per share in last
year's second quarter which was increased by a provision for discontinued
operations' costs of $46,000 or 1 cent per share to bring final results for
that quarter to a loss of $3,539,000 or 84 cents per share.

    ISSUED BY REDLAW INDUSTRIES INC.
    PER CNW                November 13, 1998