Crown Laboratories announces third quarter and nine month 1994 financial results.

LAS VEGAS--(BUSINESS WIRE)--Nov. 17, 1994--CROWN LABORATORIES, INC. (AMEX SYMBOL: CLL) today announced results for the third quarter and nine months ended September 30, 1994.

The company reported a net loss for the third quarter ended September 30, 1994 of $368,436 or $0.04 per share as compared to a net loss of $222,118, or $0.04 per share for the third quarter ended September 30, 1993.

Net loss for the nine months ended September 30, 1994 was $845,588, or $0.08 per share, compared to a net loss of $400,951 or $0.08 per share in 1993. The increased loss resulted primarily from employee wages, plant start-up and organizational costs, as anticipated.

Shares outstanding for both periods ended September 30, 1994 were 10,210,966 compared to shares outstanding of 4,939,084 for the corresponding three and nine month periods. The increase in outstanding shares is attributable to the Company's common stock offering of 3,375,920 during the third and fourth quarters of 1993.

Craig Nash, chief executive officer of CROWN LABORATORIES, INC., stated, "We are on schedule to begin manufacturing and shipment of our medical nutritional products in the fourth quarter. In preparation for the opening of the manufacturing facility we have hired Jim Doerr as Plant Manager. Jim has an extensive background in aseptic food processing and packaging. We have also hired Brent Coeur-Barron as Administrative Officer to oversee the daily administrative issues of Crown. Brent has broad experience in managing and advising the businesses of a major healthcare provider." Nash concluded, "we are excited about entering the market, as several potential customers have expressed an interest in our product lines."

CROWN LABORATORIES, INC. is a manufacturer and marketer of a line of pharmaceutically balanced nutritional products and supplements designed for nursing home and hospital patients with special nutritional needs. The Company plans to market a combination of liquid and dry mixed products which meet a wide range of dietary and nutritional requirements. -0-

                        CROWN LABORATORIES, INC.
                 CONSOLIDATED STATEMENT OF OPERATIONS
                             (Unaudited)

                       Three Months Ended       Nine Months Ended
                           September 30,           September 30,
                       1994          1993       1994         1993

Sales                 $ -----      $ -----     $ -----      $ -----
General and
 administrative       353,753      194,552     855,098      349,003
Loss from operations (353,753)    (194,552)   (855,098)    (349,003)

Other income (expense)
Write off of costs
 associated to
 unsuccessful fund
 raising                -----     (277,745)     -----      (277,745)
Interest expense      (18,974)      (3,662)    (20,673)     (28,044)
Interest income         4,291        7,798      30,183        7,798
Reversal of net
 liabilities
 of liquidated
 subsidiary             -----      246,043       -----      246,043
Loss before income
 taxes               (368,436)    (222,118)   (845,588)    (400,951)

Net loss            $(368,436)   $(222,118)  $(845,588)   $(400,951)

Net loss per share     $(0.04)      $(0.04)     $(0.08)      $(0.08)

Weighted average
 number of common and
 common equivalent
 shares outstanding 10,210,966   4,939,084   10,210,966    4,939,084
 -0-

                        CONSOLIDATED BALANCE SHEET DATA

                          September 30, 1994        December 31, 1993
                               Unaudited                   Audited

Total current assets            517,312                   2,867,009
Total assets                  3,505,189                   3,879,667
Total current liabilities       363,477                     317,477
Total shareholders' equity    2,710,581                   3,562,190

Information contained herein was obtained by Lippert/Heilshorn & Associates, Inc. (LHA) from Crown Laboratories Inc. and other sources deemed reliable by LHA. LHA is employed by the Company as its investor relations firm and LHA or its officers or employees may have a position in the Company's securities. This information is not a solicitation of the purchase or sale of securities.

CONTACT: Crown Laboratories, Las Vegas 

             Larry Rosenthal, Investor Relations, 800/276-9615
                            or
             Lippert/Heilshorn & Associates, New York
              212/838-3777
             Michele Fasano - Ext. 105
             Juliana Vicelja - Ext. 103