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Redlaw Industries Inc.

22 November 1999

Redlaw Industries Inc.

    ORILLIA, ON, Nov. 22 - The financial results of Redlaw
Industries Inc. of Orillia, Ontario for the first six months of fiscal 2000
ended September 30, 1999 were today released by the company. All dollars
quoted are Canadian.
    Loss from continuing operations for the first six months of fiscal 2000
was $3,057,000 or 66 cents per share which was increased by a provision for
discontinued operations' costs of $99,000 or 2 cents per share to bring final
results to a loss of $3,156,000 or 68 cents per share. This compares to a loss
from continuing operations for the same period last year of $1,414,000 or 31
cents per share which was increased by a provision for discontinued
operations' costs of $98,000 or 2 cents per share to bring final results for
that period to a loss of $1,512,000 or 33 cents per share.
    Loss from continuing operations for the second quarter was $1,267,000 or
27 cents per share 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 $1,316,000 or 28 cents per share. This compares to a
loss from continuing operations of $648,000 or 14 cents per share in last
years' second quarter which was increased by a provision for discontinued
operations' costs of $49,000 or 1 cent per share to bring final results for
that quarter to a loss of $697,000 or 15 cents per share.
    Redlaw, in the past, has offset its negative cash flow from operations
through cash infusions from related parties and cash proceeds from sales of
its wholly-owned subsidiary's holdings in Johnston Industries' Inc. However,
there can be no assurance that further cash infusions will be available. The
Johnston Industries stock is pledged to a lender.

    ISSUED BY REDLAW INDUSTRIES INC.