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To: B Kindrat who wrote (14)	11/12/1998 9:15:00 AM
From: Crusader	Read Replies (1) \| Respond to of 38

D.C. Corrosion Corporation Annual Net Income Up 83% EDMONTON, AB. - November 12, 1998 - Neil Magrath, President of D.C. Corrosion Corporation is pleased to announce the results for the fiscal year ending June 30, 1998. Revenues for 1997/98 rose 74% to $7.46 million, cashflow more than doubled to $871,000 and net income for fiscal 1997/98 is $351,000 a 83% increase over the previous year. Management is pleased to present these results, which depict an impressive growth rate of 438% over the past three years, performance well in excess of projections. While the historical performance is impressive, the Corporation now faces the challenge of preserving the momentum during a downward economic period. 1996 1997 1998 Revenues (000.s) $3,188 $4,282 $7,461 Net Income (000,s) $47 $191 $351 Several initiatives have been launched to enhance future performance. The initiatives include; · An emphasis on the U.S and offshore markets where the weak Canadian dollar makes our products and services attractive. · Evaluation of complimentary product lines and the addition of those with high potential to our catalogue of products. · Expanding the present range of services to provide "total solutions" to environmental issues will be evaluated and implemented where cost effective. D.C. Corrosion's investment in high technology utilizing the worlds first commercial low earth orbiting (leo) satellite system has led to a joint venture to create and participate in ROM Communications. This state of the art data communications company will specialize in remote monitoring, data retrieval and asset management. ROM products will be deployed and be commercially available the first part of 1999. Safe-X Corporation, a wholly owned subsidiary has recently upgraded and expanded its Hydro-Vac fleet by over 50%, laying the groundwork for increased revenues and profitability for the coming year. SAFE-X will continue to expand its fleet and the range of services offered to the energy and civil markets, 1998/99 will see the enhancement of the pressure testing, line flushing and line locating services and the addition of concrete cutting and video inspection services. The Sherwood Park operations have recently been moved to larger facilities in Edmonton. This much needed expansion will accommodate our increased product lines and future value added manufacturing. Management remains cautiously optimistic about future growth and will target opportunities that reflect our present economy. Record sales for the first quarter are anticipated. D.C. Corrosion Corporation, one of Canada's largest corrosion prevention companies, specializes in the prevention of environmental corrosion through the use of cathodic protection. The company provides corrosion consulting services, cathodic protection systems, hydra-vac excavation services, materials, technologies and equipment to both private and public sectors. For further information contact: Patrick Starr, Investor Relations 1700, 10060 Jasper Avenue Edmonton, AB T5J 3R8 Phone: (403) 423-0199 T/F: (888) 423-0199 Fax: (403) 423-0346 E-mail: quickcal@planet.eon.net Website: www.dccorrosion.com