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Robert Mitchell Returns to Profitability.

MONTREAL--(BUSINESS WIRE)--March 7, 1996--ROBERT MITCHELL INC. (ME:MIT.A, MIT.B) Robert Mitchell Inc. returned to profitability in 1995. Net income in 1995 was $5,348,323 - $2.33 per Class "B" share - compared to a net loss of $1,853,795 in 1994 - $0.82 per Class "B" share.

Sales increased 35 percent from $75.8 million in 1994 to $102.0 million in 1995.

All of our operations were profitable in 1995, particularly our Industrial Piping Division, in Canada, and our U.S. subsidiary in Portland, Maine. These two operations benefited from favourable market conditions, strong demand for their products and higher stainless steel prices.

At its March 7, 1996 meeting, the Board of Directors declared the quarterly fixed cumulative dividend of four and one-sixth (4 1/6 cents) cents per share for the quarter ended March 31, 1996, on the outstanding Class "A" shares, payable on March 22, 1996, to shareholders of record on March 15, 1996.

By order of the Board,

CONTACT: Robert Mitchell Inc.

Denis L. St-Jean, 514/747-2471
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Publication:Business Wire
Date:Mar 7, 1996
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