Farha-1 Exploratory Well Abandoned Hana-2 Appraisal Well About to Spud.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 27, 1999--

The board of directors of Drucker Industries Inc. (OTC BB:DKIN) ("Drucker" or the "company") reports that, subsequent to the recent Hana-1 oil discovery on the Joint Venture's West Gharib Block in Egypt, a second exploratory well, Farha-1, located 7 miles to the south of the discovery well, has been drilled to a total depth of 6,040 feet and has been abandoned as a dry hole.

The EDC Rig No. 17 is being relocated to the vicinity of the Hana-1 discovery well to drill the first appraisal well. The Hana-2 well will further evaluate the Rudeis and Kareem sands of the Middle Miocene.

The Hana-1 discovery well encountered an estimated 60 feet of sand pay and is capable of producing in excess of 500 barrels of oil per day from a 20 foot perforated interval.

Upon successful completion of the Hana-2 well it is the intention of the Joint Venture to commence commercial production as soon as possible. The drilling rig has been reserved to possibly drill additional development wells following the Hana-2 well.

Drucker Petroleum Inc., a wholly owned subsidiary of Drucker Industries Inc., holds a 20% interest. Tanganyika Oil Company Ltd., through its wholly owned subsidiary Dublin International Petroleum (Egypt) Limited, is the operator of the West Gharib block holding a 50% interest and GHP Exploration (West Gharib) Ltd., a wholly owned subsidiary of TransAtlantic Petroleum (USA) Corp. holds the remaining 30% interest.

Any forward-looking statement in this press release is made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.

Investors are cautioned that actual results may differ substantially from such forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economical and political factors, fluctuations in international and local oil prices, as well as the inherent risks of exploring for oil and gas.

Drucker disclaims any obligation to update any such factors or to publicly announce results of any revision to the forward-looking statements contained herein to reflect future events or developments.

On Behalf of the Board of Directors of Drucker Industries Inc.

(Signed) Gerry Runolfson, President

For further information including location map, please visit our website at www.drucker-ind.com or contact: Gerry Runolfson, President Phone: [phone] Fax: [phone] or Ernest Cheung, Director or Ken Kow, Exploration Manager Phone: [phone] Fax: [phone] e-mail: [e-mail]