Listed: CDN (Canadian Dealing Network) Current Price: $0.40 (Cdn) NASDAQ Bulletin Board Symbol: DURP/DRPDF Shares Outstanding: 27,411,619 TORONTO, May 21 /CNW-PRN/ - Michael Zuk, CEO today announced that the Company has made a request to the Ontario Securities Commission (the ``Commission'') that an order be granted by the Commission to extend the deadline for Dura Products to file its audited financial statements for the year ended December 31, 1998. The delay in completion of its year-end audit is due principally to the termination of its joint venture in Andover, Massachusetts. The joint venture is being wound-up and its assets liquidated. The Company expects to write-off its investment in the joint venture (approximately Cdn $540,000) and is in the process of estimating what, if any, residual liabilities exist and their impact on the 1998 financial statements. The joint venture was terminated due to cost overruns, delays in delivery of equipment, process changes, and the inability to complete borrowing arrangements for the Andover joint venture. The delays in equipment deliveries impacted on the Company's ability to deliver product and hence adversely impacted sales, earnings and cashflow, which in turn reduced working capital and overall liquidity. The Company is in the process of raising additional debt and equity capital to support increased sales and working capital requirements as a result of shipping pallets and new decking product sales. Mr. Zuk also announced the resignations of Mr. Patrick Banfield and Mr. Stuart MacGregor as directors of the Company. Mr. Zuk stated that the vacancies would not be filled until the annual general meeting. Mr. Zuk also announced that Mr. Craig Prentice has resigned as President of Dura Skid Inc. and Mr. Carl McMurray resigned as Chief Financial Officer of the Company. Dura Products is in the process of hiring a new CFO. However, the position of President of Dura Skid has been eliminated. Dura Products International Inc. is an eco-efficient producer of a proprietary composite material made from a combination of recycled post consumer/post industrial plastics and cellulose fibre. The Duraskid(TM) pallet is the first product manufactured from the composite material. SOURCE Dura Products International Inc. -0- 5/21/99 /CONTACT: Investor Relations: Chinggis Capital Corp., Tel: (416) 740-2426, Fax (416) 740-7785, E-mail: chinggis(at)ican.net/ (DURP. DRPDF) CO: Dura Products International Inc. ST: Ontario IN: SU: -30-  