Rose International Ltd.: Earnings News Release FROM: ROSE INTERNATIONAL LTD. (OTC:DYES) FOR IMMEDIATE RELEASE Contact: G. David Gordon April 30, 1996 President Tel: 918-582-1788 ROSE INTERNATIONAL LTD. REPORTS FIRST QUARTER EARNINGS OF $297,542 BEFORE INCOME TAXES TULSA, OK--April 30, 1996 -- Rose International Ltd. (OTC:DYES) reported first quarter net earnings of $167,542 or $.03 per share. This compared with net earnings in the first quarter of 1995 in the amount of $36,772 or $.01 per share. Net earnings before income taxes were $297,542 during the first quarter of 1996 as compared to $36,772 during the first quarter of 1995. Net earnings before income taxes in 1996 includes a loss in the amount of $59,484, representing Rose Color's 49% equity in the loss recognized by Mafatlal-Rose Color Industries Limited ("MRCI"), its joint venture with Indian Dyestuff Industries Limited, the largest dye manufacturer in India. MRCI made its first sales during the first quarter of 1996 and is still involved in the initial start-up phase of operations. Revenues increased 46% to $1,879,635 in the first quarter of 1996 as compared to $1,291,839 in the first quarter of 1995. As previously announced, Rose International is a majority owned subsidiary of Struthers Industries, Inc. (AMEX:SIR), which plans to spin off Rose International immediately prior to its scheduled acquisition of the majority of the assets of World Interactive Network, Inc.(WIN). In connection with the pending Asset Purchase Agreement with WIN, Struthers will distribute to its then-existing shareholders of record one share of Rose International for every three shares of Struthers held by a shareholder. Rose International Ltd. and Subsidiary (A Majority-Owned Subsidiary of Struthers Industries, Inc.) Consolidated Statements of Operations Three Months Ended March 31, 1996 1995 Sales and revenues $ 1,879,635.00 $ 1,291839.00 Cost of sales 1,360,224.00 1,008,565.00 Gross profit 519,411.00 283,274.00 Other expense (income) Selling, general and administrative expense 312,981.00 209,229.00 Interest expense - Parent 5,139.00 - Interest expense - Other 11,896.00 37,390.00 Equity in loss of MRCI 59,484.00 Gain from sale of marketable equity securities (167,123.00) - Interest and other income (508.00) (117.00) 221,869.00 246,502.00 Earnings before income taxes 297,542.00 36,772.00 Income tax expense 130,000.00 - Net earnings $ 167,542.00 $ 36,772.00 Rose International Ltd. and Subsidiary (A Majority-Owned Subsidiary of Struthers Industries, Inc.) Consolidated Balance Sheet March 31, December 31, 1996 1995 (Unaudited) (Audited) Assets Current assets Cash and cash equivalents $ 1,197,062 $ 178,670 Marketable equity securities - 213,348 Receivables, net 831,733 862,376 Inventories 1,376,619 1,285,434 Prepaid expenses and other assets 31,271 36,330 Total current assets 3,436,685 2,576,158 Property and equipment, net 6,280,978 6,259,906 Goodwill, net of amortization 2,217,044 2,249,930 Investment in MRCI 323,761 417,512 Other 10,469 11,032 $ 12,268,937 $ 11,514,538 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 852,956 $ 396,834 Accrued liabilities 73,455 20,307 Payable to parent company 120,525 215,386 Current maturities of long-term obligations 101,169 101,630 Notes payable - related party - 125,000 1,148,105 859,157 Long-term obligations 193,601 219,425 Deferred income taxes 767,000 831,000 Stockholders' equity Common stock 49,740 47,750 Paid-in capital 10,177,558 9,806,548 Accumulated deficit (42,074) (209,616) Foreign currency translation adjustment (24,993) (39,726) Total stockholders' equity 10,160,2310 9,604,956 $ 12,268,937 $ 11,514,538 End