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DEVELCON ELECTRONICS ANNOUNCES YEAR END RESULTS

 DEVELCON ELECTRONICS ANNOUNCES YEAR END RESULTS
 SASKATOON, Saskatchewan, Dec. 20 /PRNewswire/ -- Develcon


Electronics Ltd. today announced its audited results for the year ended Aug. 31, 1991 as follows (Canadian funds):
 DEVELCON ELECTRONICS LTD.
 Year Ended Year Ended
 Aug. 31, 1991 Aug. 31, 1990
 (Restated)
 Sales and customer
 service revenue $9,108,000 $9,738,000
 Loss before unusual
 items and income taxes (2,134,000) (2,909,000)
 Unusual items 815,000 837,000
 Net loss (1,319,000) (2,072,000)
 Loss per share $(.17) $(.36)
 Audited results for the year ended Aug. 31, 1991 reflect a net loss of $1,319,000 or $.17 per share, compared to a net loss of $2,072,000 or $.36 per share a year earlier. No income tax recovery on the losses has been recorded. These losses will be available for offset against any future taxable income. Results for the years ended Aug. 31, 1991 and Aug. 31, 1990 include unusual income items of $815,000 and $837,000 respectively, primarily relating to the recovery of net refundable taxes resulting from the acquisition of 272319 B.C. Ltd. referred to in previous reports to shareholders.
 In the three months ended Aug. 31, 1991, a net loss of $48,000 was incurred versus a loss of $639,000 in the comparable quarter a year earlier.
 The weighted average number of shares outstanding was 7,677,508 during the year and three months ended Aug. 31, 1991 and 5,692,839 and 7,677,508 during the year and three months ended Aug. 31, 1990.
 The company continues to experience working capital pressures. Management is emphasizing measures to increase revenues and contain costs throughout the organization. At the same time, the company is actively pursuing the identification of a strategic partner who would provide financial strength to the organization.
 -0- 12/20/91
 /CONTACT: W.D. Vancoughnett, president and chief financial officer of Develcon Electronics, 306-933-3300/
 (DLC.) CO: Develcon Electronics Ltd. ST: Saskatchewan IN: CPR SU: ERN


JT -- NY081 -- 4524 12/20/91 16:42 EST
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Date:Dec 20, 1991
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