Canton Financial announces first quarter results.

SALT LAKE CITY--(BUSINESS WIRE)--May 16, 1995--Canton Industrial Corp. (BSE:CND; OTC BB:CICP) announced Tuesday the results for the first quarter March 31, 1995.

Canton Industrial reported a net profit of $180,000 or 6 cents per share on 3,076,000 shares outstanding for the quarter ended March 31, 1995, compared with a net loss of $617,000 or 23 cents per share on 2,680,000 shares outstanding in the first quarter of 1994. Revenues in the quarter grew 267 percent from a year ago and reached $610,000.

Richard D. Surber, president, said, "We are extremely pleased with the strong first quarter results. Our strategy to develop and strengthen our client base is beginning to show its rewards."

Canton Industrial Corp. is an international holding company. Through its subsidiaries, Canton provides a wide range of financial consulting services to corporations, institutions and professional firms in markets throughout the world. -0-

                 Canton Industrial Corp.
                  Financial Highlights

Balance Sheet Data         March 31, 1995   Dec. 31, 1994

Current assets                $  602,062    $  405,175
Net property and equipment     3,155,129     3,192,778
Other assets, net              2,121,375     1,957,105
Total assets                   5,878,566     5,555,058
Total liabilities              2,860,160     2,778,123
Minority interest                136,000       151,000
Stockholders' equity           2,882,406     2,625,935
Total liabilities and
 stockholders' equity          5,878,566     5,555,058

Income Statement Data      March 31, 1995  March 31, 1994

Revenues                      $  609,892      $166,141
Gross profit (loss)              374,270       (77,887)
Net income (loss)                179,941      (616,620)
Per share net income (loss)      6 cents     (23 cents)
Weighted average shares
 outstanding                   3,075,864     2,679,911

CONTACT: Canton Industrial Corp., Salt Lake City

L.J. Perry, 801/575-8073