Brunswick Technologies, Inc. Reports Record First Quarter Revenues and Earnings.

BRUNSWICK, Maine--(BUSINESS WIRE)--May 11, 1998--(Nasdaq: BTIC)--Brunswick Technologies, Inc., a leading innovator and producer of composite engineered reinforcements, today reported record financial results for first quarter ended March 31, 1998. Revenues grew to $9,047,000, up 23% from $7,332,000, for the same period last year. Net income rose to $418,000, or $.08, fully diluted earnings per share, compared to $287,000, or $.07, fully diluted earnings per share from the prior year. Quarterly earnings were calculated on a 28% increase in the weighted average number of diluted common shares compared to the same quarter last year. Results for this quarter reflect approximately one month of BTI Europe operations, a UK composite materials manufacturer acquired by the company in early March.

Martin Grimnes, CEO, commented, "We are pleased with BTI's first quarter performance. Substantial sales in industrial markets, marine conversions, and the penetration of White Steel<T174> in oil and gas production equipment drove revenues late in the quarter after a slow start in January due to a week of manufacturing interruptions and shutdowns in our Maine plant caused by the devastating ice storm." He added, " We are optimistic there will be continued growth within our target markets for the balance of the year."

The integration of BTI Europe sales and manufacturing operations continues to progress well. According to BTI President, Bill Dubay, "Our European distributors and BTI Europe's sales team have `hit the deck running' and they are now aggressively marketing a full product line including White Steel and other unique BTI products. These marketing efforts have already resulted in new business opportunities throughout Europe. This unique product range was received enthusiastically at the recent JEC in Paris, the largest composites tradeshow in the world."

Examples of products manufactured with BTI engineered reinforcements include: ballistic shielding, boats, pipe, skis, automotive parts, rail cars, air frame structures, marine pilings and fenders, bridges, storage tanks and offshore oil and gas safety production equipment. BTI has its corporate offices in Maine and manufacturing facilities in the UK, Texas and Maine.

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                      BRUNSWICK TECHNOLOGIES INC.
                         FINANCIAL HIGHLIGHTS
                              (UNAUDITED)
             (in thousands, except per share information)


                                   Three Months Ended
                                        March 31
Selected Income Statement Data     1998(1)     1997   Change


Net Revenue                      $9,047      $7,332       23%


Operating Income                 $  536      $  545      -2%

                                                5.9%     7.4%

Net Income                       $  418      $  287       46%


                                                4.6%     3.9%

Diluted Earnings Per Share       $ 0.08      $ 0.07       14%


Weighted Average Common Stock
 & Common Stock Equivalents
 Outstanding                      5,466       4,280       28%

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Selected Balance Sheet Data
 as of March 31                         1998(1)      1997


Current Assets                         $ 11,921   $ 13,470


Total Assets                           $ 32,525   $ 24,955


Current Liabilities                     $ 4,006    $ 2,443


Total Liabilities                       $ 8,777    $ 6,532


Stockholders' Equity                   $ 23,748   $ 18,423


Total Liabilities and
 Stockholders Equity                    $32,525    $24,955


     (1) 1998 amounts include the accounts of BTI-Europe which
commenced operations on March 2, 1998

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Matters discussed in this news release, including any discussion of or impact, expressed or implied, on the Company's anticipated operating results and future earnings per share contain forward-looking statements (identified by the words "estimated", "project", "plans", "believe", "expect" and similar expressions) that involve known and unknown risks and uncertainties. For these statements the Company claims the protection of the safe harbor of the Private Securities Litigation Reform Act of 1995. The Company's results may differ significantly from the results indicated by such forward-looking statements. The Company's future results are dependent upon general economic conditions, the availability of supplies of fiberglass, the ability to expand current markets, competition in its own as well as competing product lines from both fiberglass and non-fiberglass suppliers, the stability of its customers' capitulate spending plans and the ability of the Company to obtain necessary capital from time to time. These and other risks are detailed from time to time in the Company's SEC reports, including Form 10K for the year ended December 31, 1997.

CONTACT: Brunswick Technologies

Lisa Sheprow, 207/729-7792