Mr. Allen Maxin reports

OMNI-LITE INDUSTRIES ANNOUNCES NEW THREE YEAR AEROSPACE CONTRACT; BACKLOG INCREASES TO $11.1 MILLION US

Omni-Lite Industries Canada Inc. has received a new $4.8-million (U.S.), three-year contract from a major aerospace customer. At today's conversion rate, this contract would be valued at approximately $6.3-million. Additional value could accrue to this program as the contract can be amended to include new components at any time during the contract term. "This contract increases the company's current backlog to $11.1-million (U.S.)," stated Tim Leybold, chief financial officer. "The contract also significantly improves the company's revenue visibility over the next several years."

"This contract is the second multiyear aerospace contract signed in the last six months, and represents a tremendous vote of confidence in the state-of-the-art engineering and manufacturing facility that the company has built in Southern California. The total of both these contracts is almost $7.9-million (U.S.), or $10.2-million," stated Allen Maxin, president. "The aerospace industry is expected to show significant growth over the next decade. The company has made a major long-term effort to be an important contributor in this industry."

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