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Redlaw Industries Inc.

12 August 1999

Redlaw Industries Inc.

    ORILLIA, ON, Aug. 12 /CNW-PRN/ - The financial results of Redlaw
Industries Inc. of Orillia, Ontario for the first three months of fiscal 2000
ended June 30, 1999 were today released by the company. All dollars quoted are
Canadian.
    Loss from continuing operations for the first quarter ended June 30, 1999
was $1,790,000 or 39 cents per share which was increased by a provision for
discontinued operations' costs of $50,000 or 1 cent per share to bring final
results for the quarter to a loss of $1,840,000 or 40 cents per share. This
compares to last year's loss from continuing operations of $716,000 or 17
cents per share in the comparable quarter 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 $815,000 or 18 cents per share.