Liteglow Industries Inc. Announces 3rd Quarter Results

9 December 1998

Liteglow Industries Inc. Announces 3rd Quarter Results

POMPANO BEACH, Fla.--Dec. 8, 1998--Michael Lomnitzer, CFO of Liteglow Industries Inc. (Bulletin Board:LTGL), released results for the 3rd quarter as follows:

                   9-Months to 9-30-1998     9-Months to 9-30-1997
Sales                    $2,155,311               $2,026,932
Gross Profit             $  983,055               $  915,417
Net Income/Loss    Loss  $ (539,220)              $   64,044

    Lomnitzer stated that the loss for 1998 was mainly a result of related fees for the acquisitions of Lowglow Neon and B & B Associates, and write-offs associated with disposing of some old inventory. Lomnitzer also stated that this will cause Liteglow to show a loss for the year ending 12-31-98.
    However, Spencer Krumholz, CEO of Liteglow stated that Liteglow should return to profitability by the 2nd quarter of 1999, as several measures have been implemented internally, and many new customers have recently been added. Liteglow presently has 200 million shares authorized and approx. 120 million shares in the float.
    The foregoing contains forward-looking statements which are subject to contingencies and uncertainties. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could prove to be inaccurate. Actual events, transactions or results may differ materially from anticipated events, transactions or results described in such statements.
    Requests for an investor information package should be made by calling Liteglow Industries Inc. at 800/801-GLOW (4569), or e-mail at spencer@liteglow.com. Fax number is 954/971-5117. Don't forget to visit our website at: www.liteglow.com.