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Redlaw Industries Inc. - Financial Results

16 February 1999

Redlaw Industries Inc. - Financial Results

    ORILLIA, ON, Feb. 15 /CNW-PRN/ - The financial results of Redlaw
Industries Inc. of Orillia, Ontario for the first nine months of fiscal 1999
ended December 31, 1998 were today released by the company. All dollars quoted
are Canadian.
    Loss from continuing operations for the first nine months of fiscal 1999
was $1,788,000 or 39 cents per share which was increased by a provision for
discontinued operations' costs of $151,000 or 3 cents per share to bring final
results to a loss of $1,939,000 or 42 cents per share. This compares to a loss
from continuing operations for the same period last year of $4,923,000 or
$1.18 per share which was increased by a provision for discontinued
operations' costs of $141,000 or 3 cents per share to bring final results for
that period to a loss of $5,064,000 or $1.21 per share.
    Loss from continuing operations for the third quarter was $374,000 or 8
cents per share which was increased by a provision for discontinued
operations' costs of $53,000 or 1 cent per share to bring final results for
the quarter to a loss of $427,000 or 9 cents per share. This compares to a
loss from continuing operations of $1,818,000 or 44 cents per share in last
year's third quarter which was increased by a provision for discontinued
operations' costs of $48,000 or 1 cent per share to bring final results for
that quarter to a loss of $1,866,000 or 45 cents per share.

    ISSUED BY REDLAW INDUSTRIES INC.