Coventry Industries In Discussions With Two Potential Acquisition Targets.

BOCA RATON, FL--(BUSINESS WIRE)--March 25, 1998--Coventry Industries Corp. (NASDAQ:COVN) is in discussions to acquire two companies, it was announced today by Robert Hausman, chairman.

The acquisitions, when complete, are expected to significantly increase Coventry's fiscal 1997 revenues of $4.5 million.

"We are conducting extensive due diligence on these companies to determine whether they fit into our strategic acquisition program," said Hausman, adding that the company remains very focused on its aggressive acquisition strategy. "In the meantime, we continue to grow the two companies we acquired in September as we integrate them into our existing operations."

In September 1997, Coventry acquired Apollo Pipe and Valve, a distributor of industrial pipe, valves and fittings with annualized revenues of approximately $500,000, and Lantana Peat and Soil, a distributor of high quality custom soil mixes to wholesale nurseries throughout Florida with annualized revenues of about $3 million. The company expects revenues and profits from these two operations to increase by the close of fiscal year 1998, ended June 30.

With $11 million in assets, $8.3 million in shareholder equity and 2.5 million shares outstanding, Coventry consistently reports positive cash flow from operations and remains free of unsecured debt.

Based in Boca Raton, Coventry Industries is a diversified holding company with subsidiaries in manufacturing and industrial fabrication, employee staffing and consumer products, including agricultural products. Since its inception, Coventry has made numerous acquisitions in each of its core business areas. The company anticipates continued growth using the same approach. -0-

Certain of the statements contained in the press release may be deemed forward looking statements in accordance with the Private Litigation Reform Act of 1996. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could case actual plans to differ materially from these statements and other matters are the risks and other factors detailed, from time to time, in the company's reports with the U.S. Securities and Exchange Commission, including but not limited to the company's Annual Report on Form 10-K for the fiscal year ended June 30, 1997.

CONTACT: Coventry Industries Corp., Boca Raton

Robert Hausman, Chairman

561/488-4802