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Binks Sames Fiscal 1998 Sales Will Be Up 22 Percent

14 December 1998

Binks Sames Fiscal 1998 Sales Will Be Up 22 Percent; Distribution Alliance Talks In Progress

    FRANKLIN PARK, Ill., Dec. 11 -- Binks Sames Corporation
(Amex: BIN), soon to be renamed Sames Corp., announced today that unaudited
sales for continuing operations for the fiscal year ending November 30, 1998,
exceeded $123 million, an increase of 22 percent over the prior year's $101
million.  In the fourth quarter, sales were more than $36 million, a 74
percent increase over the $21 million in the fourth quarter of fiscal 1997.
The Company expects to report audited sales and income for the year in
February 1999.
    Arnold H. Dratt, President and Chief Executive Officer of Binks Sames,
said, "The sales gains this year are especially notable, since customers,
employees and suppliers all were distracted by a sale process, which resulted
in the September 30 disposition of the Company's standard products business to
Illinois Tool Works Inc."
    The Company also said that it is in serious talks with a major supplier of
coating application equipment and technology to form a strategic alliance for
the distribution of certain Sames product lines through the alliance partner's
distributor network in certain key markets, including North America. "We hope
to complete an agreement in principal  in the next few weeks," Dratt said.
    Mr. Dratt further noted that Sames also expects to enter into a formal and
complementary global alliance within 45 days with an automation systems
provider primarily focused on the automotive market, in order to deliver
optimum systems solutions to its customers. As part of this alliance, the
Company expects to greatly expand its customer demonstration center at the
headquarters of its Sames S.A. subsidiary in Grenoble, France, making it a
state-of-the-art facility showcasing products of the alliance. Mr. Dratt
declined to estimate the sales impact of these expected alliances.
    With the creation of these new alliances, Wayne F. Edwards, Chairman of
the Board, said he expects Sames to maintain its technological leadership in
its primary electrostatic paint application products in general industry and
automotive markets, and he anticipates market share increases in both
categories in 1999 in North America.
    The Company also announced that it has signed a definitive agreement to
sell its North American spray booth business, with an anticipated closing on
December 21, 1998.
    Binks Sames Corporation is a leading worldwide supplier of electrostatic
liquid paint and powder coating application equipment and systems for the
automotive finishing market and for the general industrial finishing market.
    Statements regarding the Company's pending strategic alliances and ability
to increase its market share constitute "forward looking statements" within
the meaning of 21 E of the Securities Exchange Act of 1934, as amended, and
are subject to the safe harbor created thereby. Although the Company believes
that the expectations reflected in such forward looking statements will prove
to be correct, important factors that could cause actual results to differ
materially from the Company's expectations include, without limitation, the
ability of the Company to reach definitive agreements with potential strategic
partners and to effectively increase its market share. No assurance can be
given that the forward looking statements will prove to be correct. The
Company's operating performance from quarter to quarter is effected by
fluctuations in sales revenues caused in part by contract settlements and
currency translation, which cannot be predicted by the Company.