Management is pleased to announce that revenues in the third quarter ended September 30, 1998 exceeded C$1,015,000. This represents a 175% increase from the three month period ended September 30, 1997. Net income for the period was C$.06/share. Total revenue for the first three quarters of 1998 exceeded C$2,182,000; an increase of 225% from the nine month period of January to September, 1997. Net income for the period of January to September 1998 exceeded C$.12/share. These results are driven by continuing demand for the company's automotive, military and recreational product lines.

Omni-Lite has begun to deliver production components utilized in the airbag systems of General Motors, Ford and Mazda. In initial testing and production, these components have been shown to be superior in several ways to parts made utilizing existing technology. As a result, Omni-Lite would expect to obtain a large portion of the market for these components.

Omni-Lite was selected by Alberta Venture Magazine as the 10th fastest growing company in Alberta over the 1995 to 1997 period. Over this period, Omni-Lite's revenues increased 695% and assets increased 800%.

Omni-Lite is a rapidly growing Alberta company that develops and manufactures precision components utilized by 400 companies including GM, Ford, Mazda, Chrysler, the U.S. Military, Nike, adidas and Reebok. Omni-Lite's patented consumer products are available in 140 countries worldwide. The Company specializes in high technology using advanced composite materials and computer controlled fabrication techniques.

Except for historical information contained herein, this document contains forward looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.

For further information, please contact:
IN U.S.A.
David F. Grant
President & CEO
Tel. No. (562) 404-8510
Fax. No. (562) 926-6913
E-Mail Address: info@omni-lite.com
Website: www.omni-lite.com


THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN.