Napier International Technologies Inc. (T.NIR) Message Board

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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR)

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To: David in Ontario who wrote (2105)	2/23/1999 4:07:00 PM
From: AL	Read Replies (2) of 2444

Napier's Paint Lifters Continue to make New Sales Records ______________________________________________________________________________ Vancouver, British Columbia, Canada February 23, 1999 Napier International Technologies Inc. (NIR.TSE) is pleased to report significant growth in both sales volumes and revenues. During January 1999 Napier recorded sales volumes and revenue increases of 76% and 79% respectively over our best previous month (September) for its patented family of paint lifting products. Gross revenues for the month of January of Cdn$216,000 were 67% higher when compared to September. Most encouraging is the fact that the November to January quarter is the slowest period for North American refurbishers and yet Napier was able to sustain its quarterly growth for the paint lifters with a 16% increase over first fiscal quarter results. Napier incurred several extraordinary expenses during the month which will contribute to a small cash flow deficit for January of Cdn$26,000. The most significant cost was moving the production facility to an environmentally friendly industrial park approximately Cdn$80,000. The move and purchase of additional equipment upgraded Napier's production capacity by about 400%. The facility now has the capacity to produce approximately $2.5 million per month of finished product. Additional detailed information can be gained by calling either Jason Cubitt or Greg Thomas at Napier (604-801-6664). ON BEHALF OF THE BOARD OF DIRECTORS Bradley T. Aelicks website:www.napierintl.com President/Director ref:c/nir99-03 THE TORONTO STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT.

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