New Contracts w/ Monogram Aerospace Fasteners

Omni-Lite Industries Canada Inc.

July 18, 2001

Mr. David Grant reports

Omni-Lite has received a contract from Monogram Aerospace Fasteners to manufacture two components used by the aerospace industry. These components were developed to enable the mating and joining of composite airframe structures. "This contract represents a substantial milestone in that Omni-Lite is now under contract to deliver components that are utilized by many of the world's leading Aerospace Companies," stated Paul Burkey, chief operating officer. "Building on these relationships in the aerospace industry should lead to additional opportunities in the future."

Effective July 30, 2001, the quantity of inventory control components delivered by the commercial division will increase to over 300,000 per month, an increase of 50 per cent over current deliveries.

The value of these two projects to the company is expected to exceed $500,000 per year.

"Both of these projects represent continued growth for the company," stated David F. Grant, president and chief executive officer. "Our customers continue to support the company's advanced materials technology, the high level of engineering and sophisticated fabrication systems available at Omni-Lite."

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