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VINDICATOR, INC. RELEASES 1992 RESULTS

 TAMPA, Fla., April 15 /PRNewswire/ -- Vindicator, Inc. (NASDAQ: VIFL) today released its operating results for calendar year 1992. Vindicator, a company still in its development stage, showed operating revenues of $65,815 and other income of $9,472 for a total of $75,287. Operating losses were $1,352,480, of which $447,527 were non- cash items, and included depreciation.
 Sam Whitney, president and chairman of the board, stated that 1992 was a very productive year for the company. He said the entire 1992 fiscal year was consumed in working through the federal bureaucracy to gain publication of the final rules for irradiation processing for poultry. The rules were published in the Federal Register in the late fall of 1992, and it took another six months to get packaging materials approved by the FDA to begin the irradiation of poultry.
 "The cost of developing our company was greater than management anticipated and the federal bureaucracy moved much slower than predicted due to the impending change in Administrations," Whitney said. The operating losses, although substantial against revenues, were minimal when compared to the dramatic progress achieved in moving Vindicator to a position of being a national leader in developing safer food and meat products for the American consumer through the process of irradiation.
 Vindicator commenced limited operations during 1992, processing a small amount of Florida winter fresh produce. Testing was done on many products to gain additional approvals for irradiated foods through the FDA. The demand for irradiated fresh Florida winter produced exceeded the company's expectations, he added.
 Whitney believes that Vindicator has positioned itself to move forward quickly and should be able to offer irradiated poultry during the second quarter of 1993.
 "The development stage of the company is ending, and Vindicator will be a viable entity in food processing by the end of 1993," Whitney concluded.
 Vindicator, Inc. operates the nation's first food irradiation processing plant in Mulberry, Fla. Through the use of irradiation, it can control disease in food and meats, thus extending the shelf life of the products.
 -0- 4/15/93
 /CONTACT: Sam Whitney of Vindicator, Inc., 813-681-9091/
 (VIFL)


CO: Vindicator, Inc. ST: Florida IN: SU: ERN

AW-JB -- FL012 -- 6401 04/15/93 15:44 EDT
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Date:Apr 15, 1993
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