Exigent International, Inc. announces year end results

Exigent International, Inc. today announced the following unaudited results of operations for the year ending January 31, 1998:

Revenues were approximately $36M for FY 1998, versus $29.9M for FY 1997. Net income per share rose to $0.30 from a loss of $0.13 in the prior year.

Exigent CEO Bernie Smedley said, "We are very encouraged by our results as they reflect the one-time charges, some of which occurred in fiscal 1997, and some in fiscal 1998, as well as a full year of the on-going costs of being a public company. In addition, a significant portion of our revenues from late in the fourth quarter reflect the sale of software licenses, which is a direct return on research and development."

Exigent International, Inc. was formed in 1996 as a holding company, to capitalize on emerging high-technology opportunities. Headquartered in Melbourne, Florida, USA, Exigent's two current subsidiaries are Software Technology, Inc. (STI), and FotoTag, Inc. STI's software product OS/COMET controls satellite constellations such as IRIDIUMŪ and the United States Air Force's Global Positioning System, the two largest in the world. FotoTag develops advanced systems that track location and movement of people and objects.

The company trades on the Chicago Stock Exchange as XNT and XNTWS, and on the NASDAQ Electronic Bulletin Board under the symbols XGNT and XGNTW.

For additional financial information, click here to contact Jim Wheeler of Jim Wheeler and Associates (847-918-8464), or here to contact Don Riordan, Exigent's CFO (888-952-XGNT)