Central Capital Corporation Announces Financial Results.

TORONTO--(BUSINESS WIRE)--Nov. 20, 1996-- CENTRAL CAPITAL CORP(TSE CEH. ) -0-

                         Three Months Ended  Nine Months Ended
                         -------------------------------------
                             September 30      September 30
(unaudited, $ thousands)     1996     1995     1996     1995
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Revenue                    $  489   $  272   $ 5,075   $ 2,122
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Income before income taxes     66   $  485   $ 3,102   $ 2,466
Income tax expense              0        0         0         0
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Net Income                 $   66   $  485   $ 3,102   $ 2,466
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Shareholder's Equity       $17,313  $12,739  $17,313   $12,739
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Income per common share    $  0.00  $  0.02  $  0.15   $  0.12
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Central Capital Corporation reported an unaudited net income of $66,000($0.00 per share) for the three months ended September 30, 1996 compared to an unaudited net income for the three months ended September 30, 1995 of $485,000 ($0.02 per share).

The Corporation reported an unaudited net income of $3,102,000 ($0.15 per share) for the nine months ended September 30, 1996 compared to an unaudited net income for the nine months ended September 30, 1995 of $2,466,000 ($0.12 per share). The Corporation expects that net income for fiscal 1996 will be at approximately the same level as fiscal 1995 net income.

The allocation and issue of new common shares among the creditors and shareholders provided for in the Corporation's Plan of Arrangement (the "Plan") was finalized in June 1996. Income per share calculations for current and comparative periods are based on the weighted average of the number of the new class of common shares allocated and issued to creditors and shareholders under the Plan and the number of shares issued pursuant to the Corporation's stock option plan.

The Corporation retained Richardson Greenshields of Canada Limited (now RBC Dominion Securities) as an advisor to assist in generating, reviewing and assessing strategic alternatives. This is an ongoing effort. Management's objective is to develop and implement a strategy that will maximize shareholder value both over the short and long term and provide shareholders with greater liquidity.

CONTACT: Central Capital Corporation

Richard Hazell, 416/ 214-2206