Admiral Sanitation Inc. - Release 2 - Announces Operating Results For 1st Quarter Results 1997.

ETOBICOKE, Ontario--(BUSINESS WIRE)--Feb. 4, 1997-- (Alberta Stock Exchange ADS. ) Admiral Sanitation Inc. ("Admiral") today announced its operating results for the 1st Quarter, ending December 31, 1996.

Sales increased by $128,913 or 15.6 percent to $957,149 over sales of $828,236 for the same period in the prior year. Net income before taxes but after payment of dividends on preference shares increased by $12,531 or 72.1 percent to $29,908 over income of $17,377 for the same period previously. During the three months under review, Admiral's financial condition continued to improve. Working capital increased by $68,668 or 38 percent to $246,026 while Debt to Equity declined to 1.21:1 in 1996 from 1.71:1 in 1995. The above numbers are unaudited.

Growth in sales and earnings was a result of the introduction of new water treatment products and increased sales to existing clients of the Company's environmentally-friendly products. The corporate acquisition Admiral made in the previous fiscal year is now bringing full benefit from its new bio-remediation products. Similarly, the major new contracts signed in the Maritimes and Ontario in the previous fiscal year have subsequently increased sales in the quarter under review. Finally, with a truly national sales team now in place, Admiral is seeing increased sales of existing products across the country.

The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein.

CONTACT: Bond Strategic Communications

Herb Bond, 905/945-8486

Email: [e-mail]