Net Income up 220% with 200% Rise in EPS on 24% Revenue Increase ---------------------------------------------------------------------- GARDEN CITY PARK, N.Y.--(BUSINESS WIRE)--May 24, 1999--Conair Corporation (OTC BB:CNGA) today announced the unaudited results for the three and six months ended March 31, 1999. Revenues for the second quarter fiscal 1999 rose 24% to $1,935,555 from $1,564,354 for the same quarter last year. Net income also increased to $185,902, or $.03 per share, for the three months ended March 31, 1999 as compared to $58,030, or $.01 per share, in the second quarter fiscal 1998. The bottom line improvements represent 220% growth in net income and 200% appreciation in earnings per share. Revenues for the six months ended March 31, 1999 were $3,509,074, up 11% from $3,157,916 for the comparable period last year. Net income improved 74% from $100,706, or $.02 per share, in the first half of fiscal 1998 to $175,687, or $.03 per share, in the first six months of fiscal 1999. Consolidated Financial Highlights (Unaudited) Three Months Six Months Ended March 31, Ended March 31, 1999 1998 1999 1998 Revenues $1,935,555 $1,564,354 $3,509,074 $3,157,916 Net income (loss) $ 185,902 $ 58,030 $ 175,687 $ 100,706 EPS (loss) $ .03 $ .01 $ .03 $ .02 Weighted average shares outstanding 5,840,092 5,840,092 5,840,092 5,840,092 Conair Corporation is a New York based contracting firm with market representation in 38 states and subsidiaries focused on mechanical engineering, service, and environmental products for the $16 billion air conditioning, heating, and refrigeration industry. The Company's most dynamic subsidiary, Safecon Systems, is the industry leader in refrigerant conservation technology with the only UL listed and acceptable conservation device in the refrigeration industry. With the exception of the historical information contained in the release, the matters described herein contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve various risks and may cause actual results to differ materially. These risks include, but are not limited to, the ability of the Company to grow internally or by acquisition, and to integrate acquired businesses, changing industry and competitive conditions, and other risks outside the control of the Company.  