Banyan Announces 3rd Quarter and Year-to-Date Results.

COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Nov. 11, 1998--Banyan Corporation (OTC BB:BANY) announces the release of its third quarter and year-to-date earnings results. These earnings results accompany the audited financial results for fiscal years 1996 and 1997 that were released separately today.

Cameron Yost, Banyan's President and Chief Executive Officer, stated, "Today's release of audited and reviewed financial data going back almost three years marks a significant turning point for Banyan. From this point forward Banyan will release its operating results to shareholders on a quarterly basis. Having current financial operating results available will enable both Management and shareholders to more readily track the progress and sales growth of recent business developments such as those with Ingram Micro, Dell Computer, and various Internet storefronts."

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                          Banyan Corporation
                 Consolidated Statement of Operations
                              (Reviewed)

                 - Three Months Ending -    - Nine Months Ending -

                         9/30/98                   9/30/98

Total Sales              $65,882                  $161,237
Cost of Sales (a)        (23,415)                   54,757
   Gross Profit          $84,298                  $106,480

Operating Expenses       126,328                   297,159

Other Income/Expenses    (22,788)                  (39,533)

Net Earnings (Loss)     ($64,828)                ($230,212)

Earnings Per Share (EPS)  ($0.01)                   ($0.03)

Shares used in
 Calculations          9,173,199                 9,173,199

(a)  Cost of Sales during the third quarter reflects a one-time
     write-off of overstated Accounts Payable.

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Banyan Corporation is a publicly traded holding company with operating subsidiaries engaged in designing, manufacturing and marketing a variety of personal computer accessory products with a focus on the notebook computer market - the fastest growing segment of the personal computer industry. Through its wholly-owned DoubleCase Corporation subsidiary, Banyan is a leading manufacturer of notebook computer hard-sided protective carrying cases. Banyan's products are currently available through distribution from Ingram Micro and sold through a wide variety of computer mail order catalogs, several of the largest U.S. computer retailers, Value Added Resellers (VARs), a number of overseas vendors, and to the U.S. government.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Banyan Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Banyan Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors.