Ballantyne Repurchases 1,354,500 Shares of Common Stock; Board Authorizes An Additional 10% Repurchase.

OMAHA, Neb.--(BUSINESS WIRE)--Oct. 30, 1998--Ballantyne of Omaha, Inc. (NYSE:BTN), a leading manufacturer of motion picture projection and entertainment lighting equipment today announced that, pursuant to prior authorization, it has repurchased 1,354,500 shares of its Common Stock.

On June 26 1998, Ballantyne's Board of Directors authorized the initial repurchase of up to 10% (or 1,383,236 shares) of the Company's Common Stock. The Company repurchased 100,000 shares in the quarter ended September 30, 1998 and 1,254,500 shares in the current quarter to date. Reflecting the repurchases, Ballantyne currently has 12,477,868 shares of Common Stock outstanding.

Having nearly completed the initial repurchase authorization, Ballantyne's Board of Directors authorized the additional repurchase of up to an additional 10%, (approximately 1,245,000 shares) of the Company's outstanding shares. The repurchases may be made in the open market from time to time. The timing of the repurchases and the actual number of shares to be repurchased will depend on market conditions.

Ballantyne of Omaha is the leading U.S. supplier of commercial motion picture projection equipment utilized by prominent theater chains including AMC, Loews Cineplex and Regal Cinemas, and specialty projection equipment used by location-based entertainment providers such as The Walt Disney Co., Universal Studios, IMAX and MegaSystems. Ballantyne of Omaha also manufactures, rents and leases specialty entertainment lighting products used at top arenas, television and motion picture production studios, theme parks and architectural sites.

Except for the historical information in this press release, it includes forward-looking statements that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, customer demand for the Company's theatrical projection equipment, domestic and international economic conditions, the management of growth, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Actual results may differ materially from management expectations.