(STOCK SYMBOL - CDNX, "HED")

Hedley Announces Results

for the Third Quarter 2001

Mississauga, Ontario (October 30, 2001) Hedley Technologies Ltd. announces that sales for the nine months ending September 30, 2001 were $536,529, down 25% versus the same period last year. However expenses of $638,700 were 22% lower than last year, resulting in a net loss to date $297,009 vs $299,028 for the third quarter of 2000. The net loss per share of 3 cents is the same as last year.

Severe drought conditions in southern Alberta and Saskatchewan and excessive moisture in Manitoba's Red River Valley, carried over into the bordering states.  Consequently, North America sales will, in all probability, continue to lag behind last year.

Despite the disappointment of the over-all results, Insecolo sales in Canada and the USA continue to increase as consumers look for safe alternatives to banned home & garden chemicals.  Although sales overseas are relatively small, we are experiencing an increase over last year, particulary to Croatia and the UK.

Hedley maintains a leadership role in the development of non-toxic pesticides, while operating with very limited resources.  Hopefully, in the near future, we will enjoy positive results from our continuing efforts to both increase our primary business and to find strategic alternatives that will enhance shareholder value.
 
 

Consolidated Financial Highlights

For the nine months ended September 30, 2001 and 2000
Canadian $

All figures unless otherwise noted are reported in accordance with Canadian Generally Accepted Accounting Principles.

Please visit the SEDAR home page for a more detailed account of our filings.

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