Record First Quarter

Omni-Lite Industries Canada Inc.
OML-TSX VENTURE

May 31, 2002

All dollar ammounts are in U.S. currency except as noted.

Omni-Lite achieved record revenue and cash flow for the first quarter of 2002. Total revenue increased to $731,561 or approximately $1,166,839 (Canadian), an increase of 47 per cent over the same period in 2001. During this period, cash flow increased by 78 per cent to $389,587 or approximately $621,391 (Canadian). The company reported net income for the period of $274,965 (three cents per share) or approximately $438,569 (Canadian) (five Canadian cents per share). "We are pleased that our total revenue and cash flow numbers demonstrated solid increases during the slowest financial period of our fiscal year," stated David F. Grant, president and chief executive officer.

SUMMARY OF FINANCIAL HIGHLIGHTS
Three months ended March 31
(in U.S. dollars)
20022001
Total revenue$731,561$498,211
EBITDA$418,026$226,526
Cash flow from operations$389,587$219,477
Net income$274,965$119,864
EPS (U.S.)$0.03$0.01
EPS (CDN)$0.05$0.02


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