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ORANGE COUNTY EARNINGS

July 24, 1993

Wahlco Environmental Systems Inc.: The Santa Ana air pollution control and power efficiency equipment manufacturing and service company reported second-quarter profit of $206,000, or 1 cent a share. That contrasted with a loss of $3.6 million, or 20 cents a share, for the same period a year earlier. Revenue was up 15% to $23.9 million from $20.7 million. For the first six months of 1993, the company posted a profit of $408,000, or 2 cents a share. For the like period in 1992, the company lost $4.7 million, or 27 cents a share. Six-month revenue increased 6% to $44.9 million from $42.2 million.

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