February 7, 2001

Trading Symbol CDNX: CCB
US SEC Exemption No. 82-3378

RICHMOND, BC - Mr. James L. Swanson, Chairman of CON-SPACE COMMUNICATIONS LTD., (CDNX: CCB) announced today the company's Second Quarter results, ended December 31, 2000.

"Sales for the Second Quarter of fiscal 2000 were $696,347 up 16.3% over this Fiscal year's First Quarter Sales," said Swanson. "The year-to-date Sales for the First Half of Fiscal 2001 ended at $1,295,272 up 6.3% over the $1,219,028 for the same period a year earlier." Gross Profit for the First Half ended at $641,600 or 49.5% of sales compared to a Gross Profit of 49.1% last Fiscal year. This increase was a result of improved inventory control and manufacturing procedures resulting from the implementation of the ISO-9001 quality control system. The company was awarded its full ISO-9001:1994 certification during the Second Quarter.

The Company's Operating Expenses during the first six months of Fiscal 2001 decreased 5.3% to $648,292 from $684,230 during the first six months of Fiscal 2000. The controlling of expense which reduced Operational Expenses resulted in an Operational Profit for the First Half of $10,687 for this Fiscal year compared to an Operational Loss of $86,520 for the first half of Fiscal 2000. This gives an Operational Earnings per Share of $0.00 compared to an Operational Loss per Share of $0.01 in the previous year. "We have monitored our expenses very closely," said Swanson, "and intend to continue doing so during our third and fourth quarters."

After depreciation and amortization, a net loss $110,008 or $0.01 per share is reported for the half. This compares to a first half loss one year ago of $207,701 or $0.03 per share. "We will be continuing to put every effort in to increasing our rate of our Sales growth during the Second Half of Fiscal 2001," concluded Swanson.

During his announcement Swanson described the continuing growth in activity within the specialty markets such as the Military and Domestic Preparedness, a US Government program to have all US cities trained, equipped and prepared to defend against acts of terrorism. CON-SPACE manufactures unique voice communication equipment that is used by general industry, municipalities, fire and police departments, rescue teams and the military. Its products are sold throughout the world.

For more information, please call Jim Swanson, Investor Relations, CON-SPACE COMMUNICATIONS LTD., (604) 244-9323, (800) 755-2528 in the U.S., or by e-mail [email protected]. "Forward-looking" statements in this release involve risks and uncertainties associated with, among others, economic, industry conditions, technological development, and competition and should not be relied upon as actual results may differ materially from those projected.

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