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To: Bill Evans who wrote (267)	8/30/2000 4:55:09 PM
From: Bill Evans	Respond to of 403

BSNS WIRE) Curtis International LTD. Announces Year-End Fiscal 2000 Result Curtis International LTD. Announces Year-End Fiscal 2000 Results Business Editors TORONTO--(BUSINESS WIRE)--Aug. 30, 2000-- Net Income Increase of 22.7 % Total Sales Increase of 8.4 % CURTIS (Nasdaq:CURT) reported revenue and net income for its fourth quarter, and year-end of Fiscal 2000. Year end Net income increased by 22.7 % from $1,343,757 in Fiscal 1999 to $1,649,105 in Fiscal 2000. Fourth Quarter Net income in Fiscal 2000 was $176,776 for an increase of 13.1 % from $156,280 in Fiscal 1999. Year end revenues were $42,612,215 for Fiscal 2000, an increase of 8.4 % over Fiscal 1999 revenue of $39,309,062. Fourth quarter 2000 revenues were $6,415,945 versus $6,011,615 an increase of 6.7 %. Curtis' President, Aaron Herzog said, "We are pleased to see that we have managed to increase sales sufficiently to recover the sales lost to one of our primary customers in Canada. As previously announced this customer decided to de-emphasize its reliance on consumer electronics. In the past, they represented approximately 25 % of our sales. Our sales have increased, through increased volume to other customers, and especially to new customers in the United States. With this more diversified customer base we expect a return to the sales growth we have seen in the past. "Operating expenses remain in line with prior years' expenses. The costs of installing a new management information system have been offset by savings in interest, and selling costs." Curtis, develops, markets and distributes a broad range of consumer audio and telecommunication products. Its recent entry into the U.S. market has been highly successful. The Company's customers include mass merchandisers such as Bradlees, Dollar General, Bi-Way Stores and Family Dollar; drug store chains such as Rite-Aid, London Drugs, Thrifty Payless, Jean Coutu and Kerr Drugs; specialty marketers such as QVC, The Home Shopping Network, Shop at Home; consumer electronic retailers such as Future Shop Fry's and ABC Warehouse; and appliance and department stores such as Boscov. This press release contains forward-looking statements that, it not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Curtis International Ltd. and its business. The predictions embodied in these statements will involve risks and uncertainties and accordingly Curtis' actual results may differ significantly from the results discussed or implied in such forward-looking statements. --30--jsk/in* CONTACT: Curtis International LTD. Eugene Balogh, 416/674-2123 KEYWORD: CANADA INDUSTRY KEYWORD: TELECOMMUNICATIONS COMPUTERS/ELECTRONICS RETAIL Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com