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Starcraft Common Stock to Continue to Trade on the Nasdaq SmallCap Market

24 June 1999

Starcraft Common Stock to Continue to Trade on the Nasdaq SmallCap Market on a Conditional Listing

    GOSHEN, Ind.--June 23, 1999--Starcraft Corp.'s common stock will continue to be traded on the Nasdaq SmallCap Market with a conditional listing under the symbol "STCRC" effective June 23, 1999.
    The conditional listing was imposed after the company failed to meet Nasdaq's net tangible asset continued listing requirement.
    The terms of the conditional listing establish dates by which Starcraft must achieve certain net tangible asset or profitability levels and by which reports establishing compliance with the exception must be provided to Nasdaq and filed with the SEC. The first such report is to be provided to Nasdaq by July 21, 1999 and the latest relates to the company's 10-K for fiscal 1999 to be filed by Dec. 31, 1999. The conditional listing will expire on Dec. 31, 1999.
    If the company meets the Nasdaq listing requirements, it will continue to be listed on the Nasdaq SmallCap Market. The company expects that it will meet these conditions, although it can provide no assurance to that effect. If at some future date the company's securities should cease to be listed on The Nasdaq SmallCap Market, they may continue to be listed on the OTC Bulletin Board.
    "In recent years our total net assets fell as we invested in repositioning the Company and incurred operating losses," said Michael H. Schoeffler, president. "We are confident about the Company's future prospects as we implement our business strategy and our results continue to improve. We are pleased that the independent panel appointed by Nasdaq agrees with our assessment and granted us the conditional listing."
    Starcraft Corp. is a leading manufacturer of second stage vehicle conversions through its Starcraft, Imperial, Bus, Tecstar and National Mobility divisions.

    This news release contains forward-looking statements regarding financing capabilities, profitability and other matters. Investors are cautioned that actual results may differ materially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, level of customer demand, competitive pressures and other important factors detailed in the company's annual report on Form 10-K for fiscal year 1998 filed with the Securities and Exchange Commission.