Mining Services International Announces Third Quarter Results.

SALT LAKE CITY--(BUSINESS WIRE)--Nov. 12, 1999--

John T. Day, president and chief executive officer of Mining Services International Corp. (Nasdaq: MSIX) Friday announced results for the third quarter and nine months ended Sept. 30, 1999.

For the most recent third quarter, the company posted net income of $65,000 or $.01 per share on revenue of $7,244,000 compared to net income of $1,174,000 on revenue of $8,058,000 for the third quarter 1998.

Day noted that although the decreased income for the last two quarters has been very disappointing, it hopefully represents the bottom of the industry trend which has seen commodity prices of gold, copper and export coal fall simultaneously since 1998.

The recent recovery of gold prices and the improvement in export coal, assuming the recoveries are sustained, will allow the company's operations in Nevada, Canada and Colombia to substantially recover their profitability beginning in the year 2000 and beyond.

The greatest potential for substantial recovery in the year 2000, however, will come from the company's 1999 efforts to (1) broaden its product base to include packaged explosives and explosive accessories, (2) improve technology in Cyanide to allow for an expanding market area, and (3) implement its growth strategy supporting full service drill and blast businesses in the Eastern United States.

Although 1999 efforts do not show the results yet, Day explained that MSI has successfully done the following which should make 2000 a great come back year:

-- MSI's subsidiary, ODA, is now completing its shock tube and

detonating cord plant which is readying for production in 2000.

This will allow MSI to have a full line of explosives products.

-- MSI's packaging plant in West Virginia has reached breakeven

point and is now shipping industry standard packaged products

which will be integrated into MSI's expanding business on the

East Coast.

-- Green Mountain Explosives and the newly formed Tennessee Blasting

Services should combine for additional $15 million sales in 2000.

-- The KOVDOR Russia joint venture will be in production during

2000.

-- Both Colombia and Nevada joint ventures should substantially

recover if commodity prices continue on current trends.

-- MSI's business in Uzbekistan experienced serious difficulties due

to lack of hard currency. Last week Uzbekistan officials

expressed positive support for imminent conversion by officially

endorsing the MSI joint venture as its local supplier of

explosives to the major gold mines. -0-

                  Mining Services International Corp.
           Consolidated Statement of Operations (Condensed)
                              (Unaudited)

                                          Three Months Ended Sept. 30,
                                               1999          1998

Revenue                                    $ 7,244,000   $ 8,058,000
Income from operations                          57,000     1,800,000
Income before income taxes                      13,000     1,826,000
Provision for income taxes                      52,000      (652,000)
Net income                                      76,000     1,174,000
Net income per share based on weighted
 average common and equivalent
 common shares outstanding                 $       .01   $       .16
Weighted average number of common and
 common equivalent shares                    7,395,000     7,534,000



                                           Nine Months Ended Sept. 30,
                                               1999          1998

Revenue                                   $ 22,272,000  $ 22,382,000
Income from operations                         950,000     4,502,000
Income before income taxes                     854,000     4,577,000
Provision for income taxes                    (234,000)   (1,482,000)
Net income                                     631,000     3,095,000
Net income per share based on weighted
 average common and equivalent
 common shares outstanding                $        .09  $        .41
Weighted average number of common and
 common equivalent shares                    7,395,000     7,534,000

Note: The foregoing contains "forward-looking" statements that are pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the company's business prospects and performance.

These include, but are not limited to, economic, competitive, governmental, technological and other factors discussed in the company's reports to shareholders and periodic filings with the Securities and Exchange Commission.