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Glas-Aire Industries Group, Ltd. Announces Record Order Levels

25 July 2000

Glas-Aire Industries Group, Ltd. Announces Record Order Levels

    VANCOUVER, British Columbia - Glas-Aire Industries Group, Ltd. a majority 
owned subsidiary of Regency Affiliates, Inc., today announced orders scheduled 
for delivery over the next 2 1/2 months reached an all time record.

    Glas-Aire's President Alex Ding said:  "Orders for the next ten week's
will generate more than one third of the total revenue for all of last year.
This increase in orders reflects the business growth of the Company's largest
customers, their recognition of the recent completion of our ISO9001/QS9000
certification, and our attention to our product quality and the needs of our
customers.  We expect this order growth to continue into the foreseeable
future, and accordingly, have initiated a program to increase our productive
capacity.  We are expanding our production facilities by 30%, revamping
certain production processes, and employing additional production personnel."

    Commenting further, President Alex Ding said:  "The Specialty Equipment
Manufacturers Association (Glas-Aire operates  in the OEM portion of
the SEMA market segment) has experienced and recorded three consecutive years
of over nine percent growth.  Through the efforts of our management and
employees we have far exceeded the industry's overall growth.  Over the last
year alone, our sales have grown from $6,639,000 for the fiscal year ended
January 31, 1999 to $9,726,000 for the fiscal year ended January 31, 2000, a
47% increase.  We expect our new orders and anticipated future orders to
accelerate this growth."

    Glas-Aire designs and makes sunroof wind deflectors, hood deflectors,
rear-air deflectors and door visors for cars, light trucks and vans.
Glas-Aire sells its products in the United States, Canada, Japan and the
United Kingdom.  The Company is based in Vancouver, British Columbia and also
has a distribution center in Bellingham, Washington.