Concert Industries-European Expansion Acquisition of Airlaid Produktion Nurnberg.

VANCOUVER, BC--(BUSINESS WIRE)--Dec. 20, 1995--CONCERT INDUSTRIES LTD (ME,VSE:CNG) Further to our news release of December 19, 1995 the Directors of Concert Industries Ltd. wish to announce the signing of a letter of intent for the acquisition of Airlaid Produktion Nurnberg GmbH ("APN") for total consideration of 4,300,000 Deutsche Marks.

APN is a German producer of quality latex bonded products with distribution throughout Europe. The manufacturing facility in Nurnberg has 35 employees, produces 2,000 tonnes of material annually with total sales in excess of 10,000,000 DM. The companies will combine marketing efforts in 1996 to offer both latex and thermally bonded products in Europe.

Through the purchase of APN, Concert acquires a skilled German workforce and an experienced marketing and management team. These individuals will be involved in the installation and operation of Concert's new German facility expected to be opened in the first quarter of 1997.

Under the terms of the letter of intent, Concert acquires 51 per cent of the outstanding APN shares on February 1, 1996, from a retiring shareholder for cash consideration. The present managing director will remain in his position and retain 49 per cent of the outstanding shares. The managing director has the option to exchange the remaining shares for either cash or Concert shares as follows: on Feb. 1, 1997 23 per cent of the outstanding shares and on Feb. 1, 1998, 26 per cent of the outstanding shares.

The company has also received an option to purchase for cash a brand new 110,000 square foot facility in Germany for 9,700,000 DM.

The existing facility is of outstanding quality, was built for a cost of 44,000,000 DM and is well suited for Concert's air-laid machine, the first phase of the European expansion. The building is strategically located on two major "Autobahns" between Hamburg, Rostock and Berlin, facilitating access to the well established E.U. markets and the expanding Eastern European markets. The above transactions are subject to Regulatory approval.

Concert is devoted to the globalization of its position in the air-laid industry and the production of innovative, high quality air-laid products.

On behalf of the Board of Directors Carey Edwards Executive Vice President and C.F.O. Concert Industries Ltd.

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Concert Industries Ltd. is trading on The Montreal Exchange and The Vancouver Stock Exchange under the symbol "CNG".

CONTACT: Richard Nemeth, 604/681-1008

800/462-6623

604/681-2627 (fax)