ZCL COMPOSITES REPORTS FIRST QUARTER RESULTS.

ZCL Composites Inc. of Edmonton, Alberta, Canada, maker of FRP composite underground fuel tanks, reports net earnings for the first quarter ended June 30, 2001 of $387,000 compared to $225,000 for the same period last year. Basic and diluted earnings per share for the first quarter, before and after goodwill charges, was $0.02 as compared to $0.01 last year, after adjusting for costs of the convertible subordinated debenture.

Revenue for the quarter ended June 30, 2001 increased to $6.6 million from $6.5 million for the quarter last year. Operating earnings for the qu