EST Announces 3rd Quarter 1998 Financial Information.

KENNEWICK, Wash.--(BUSINESS WIRE)--Nov. 17, 1998--Electronic Systems Technology Inc. (EST) (OTC:ELST), a manufacturer of wireless modems, today announced sales and results of operations for the three and nine month periods ended Sept. 30, 1998.

EST reported sales for the third quarter of 1998, in the amount of $250,562 compared to $366,869 for the same quarter in 1997. Net income was $9,817 or $0.002 per share, compared with net income of $70,995 or $0.01 per share, for the third quarter of 1997. For the nine-month period, EST reported net income of $82,093 or $0.01 per share on sales of $967,678 compared with net income of $93,691 or $0.02 per share on sales of $913,763 for the same period in 1997.

             Selected Statement of Operations Information
                             (Unaudited)

                          Three Months Ended      Nine Months Ended

                          Sept 30    Sept 30     Sept 30    Sept 30
                           1998       1997        1998       1997

Sales                    $250,562   $366,869    $967,678   $913,763
Net income before tax      14,874    107,567     124,384    141,956
Net income                  9,817     70,995      82,093     93,691
Weighted average common
 shares outstanding     5,567,612  5,480,843   5,567,612  5,480,843
Basic Earnings per Share   $0.002       0.01      $ 0.01       0.02
Diluted Earnings per Share $0.002       0.01      $ 0.01       0.02


                  Selected Balance Sheet Information
                             (Unaudited)

                                        Sept 30,        Dec 31,
                                          1998            1997

Cash and cash equivalents             $1,485,478      $1,466,760
Total current assets                   2,082,364       2,065,479
Property & equipment (net)               120,315         132,924
Total assets                           2,234,403       2,205,811
Total current liabilities                 73,248          77,213
Long-term debt                                0               0
Stockholders' equity                   2,161,155       2,128,598

Electronic Systems Technology, a publicly held company since 1984, was the first company to develop the wireless modem and receive the United States and Canadian patent for this technology.

Contact EST for more details.