David White ends 1996 with strong quarter, rising activity.

GERMANTOWN, Wis.--(BUSINESS WIRE)--Feb. 27, 1997--David White, Inc. (NASDAQ:DAWH) today reported improvement in both sales and earnings for the fourth quarter of 1996, positioning the company for continued improvement in 1997.

The leading manufacturer of optical and laser surveying instruments posted net income of $93,000 or $0.21 per share in the quarter ended December 31, 1996, on sales of $3,087,000. In the final quarter of 1995, the company experienced a net loss of $745,000 or $1.55 per share on sales of $3,019,000. The loss was related to one-time charges involving termination of a pension plan and an environmental compliance issue.

For the full year, David White's net income reached $327,000 or $0.72 per share, compared with a net loss of $852,000 or $1.75 per share in 1995. In addition to the one-time charges incurred in the fourth quarter of 1995, the loss for fiscal 1995 included a goodwill write-off associated with the sale of David White's 90% interest in a Swiss firm. Sales of $13,372,000 in 1996 were down from 1995 sales of $15,278,000, which included sales of the unprofitable Swiss subsidiary for a portion of the year.

"After making some tough decisions in 1995, we were able to begin developing David White's potential," commented Tony L. Mihalovich, president and chief executive officer. "The momentum of the fourth quarter, our strong balance sheet and an increasing volume of orders make us optimistic for 1997."

Mihalovich said conditions in the housing industry were good during 1996, but not as positive as they appeared. Although mortgage interest rates continued to be favorable, there was a mid-year buildup of unsold homes. "Toward the end of 1996, the housing inventory began to decline, setting the stage for additional new construction in 1997," said Mihalovich.

"David White now is much better equipped to take advantage of market opportunities with rising earnings and a much stronger financial position," said Mihalovich. "In the last year alone, we cut our long-term debt nearly in half and substantially reduced inventory."

During 1996, Mihalovich said David White moved ahead in several key areas, including expansion of sales through mass merchandisers and development of cross-marketing agreements with other firms serving the construction industry. Plans also were laid to enhance David White's line of domestically produced surveying instruments with low-cost, high-quality imported products.

"We made great strides in our national accounts business in 1996, increasing sales to mass merchandisers throughout the U.S. by more than 15%," said Mihalovich. "Firms like Sears now include our products in their hardware catalogs. In all cases, the products are sold under the David White label, in recognition of our commanding market penetration which rose from 53.3% in 1995 to 55.3% last year."

David White expects to introduce several new laser products and product enhancements in 1997. Included in the new offerings is the first laser detector unit to be fully compatible with all commercial lasers, including those of competitors. "Early indications are that the construction market should be very receptive to our new products, all of which enhance David White's reputation as the leading producer of low-cost, high-quality instruments and accessories," said Mihalovich.

Internationally, David White now is in a much better competitive position, according to Mihalovich. "Through an agreement with a company, which has complementary products and an extensive international distribution network, we soon will be available in many more markets than we were when we were affiliated with Ammann Lasertechnik of Switzerland," Mihalovich said. "We know from experience that buyers overseas are looking for surveying instruments that are made in the U.S., because they offer high quality at a reasonable price." -0-

Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company "believes," "anticipates," "expects" or words of similar import. Similarly, statements that describe the company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from those currently anticipated. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. -0-

DAVID WHITE, INC. RESULTS  (unaudited)
_________________________
($000 except per share data)
                                      Three Months Ended December 31,
                                      _______________________________
                                               1996       1995
                                               ____       ____
 Net Sales                                   $ 3,087    $ 3,019
 Earnings Before Other Expenses
  (Income) and Income Taxes                       64       (829)
 Other Expenses (Income)                        (158)        (3)
 Interest Expense                                 48         55
 Loss on Sale of Subsidiary                        0          0
 Earnings (Loss) Before Income Taxes             174       (881)
 Income Taxes (Benefit)                           81       (136)
 Net Earnings (Loss)                              93       (745)
 Net Earnings (Loss) Per Common Share        $  0.21   $  (1.55)
 Average Common Shares Outstanding           457,323    457,323

                                     Twelve Months Ended December 31,
                                     ________________________________
                                                1996       1995
                                                ____       ____

 Net Sales                                   $13,372   $ 15,278
 Earnings Before Other Expenses
  (Income) and Income Taxes                      566         50
 Other Expenses (Income)                        (185)        37
 Interest Expense                                284        290
 Loss on Sale of Subsidiary                        0        722
 Earnings (Loss) Before Income Taxes             467       (999)
 Income Taxes (Benefit)                          140       (147)
 Net Earnings (Loss)                             327       (852)
 Net Earnings (Loss) Per Common Share        $  0.72   $  (1.75)
 Average Common Shares Outstanding           457,323    486,698


SUMMARY BALANCE SHEETS
_______________________
(As of December 31, 1996 and 1995, unaudited, $000 omitted)
                                                1996       1995
                                                ____       ____
 Assets
 Current Assets                              $ 5,185   $  6,219
 Other Assets                                    302        493
 Plant, Property and Equipment, Net            1,816      2,465
                                             _______   ________
                                             $ 7,303   $  9,177
                                             _______   ________
                                             _______   ________

 Liabilities and Stockholders' Investment
 Current Liabilities                         $ 1,209   $  2,508
 Long-Term Liabilities                         1,091      2,037
 Stockholders' Investment                      5,003      4,632
                                             _______   ________
                                             $ 7,303   $  9,177
                                             _______   ________
                                             _______   ________

CONTACT: David White, Inc.

Tony L. Mihalovich, 414/251-8100