January 28, 2002

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


RICHMOND, BC - James L. Swanson, Chairman, CON-SPACE Communications Ltd., (CDNX:CCB) announced today a 12% increase in sales and a further increase of $188,600 in profits during the first-half of its fiscal year over last year.

"Our first-half, ended December 31, 2001, closed with year-to-date sales of $1,452,980 a 12.2% increase over the $1,295,272 for the same period last year", reported Swanson, "But more importantly, our net profit increased to $78,612 or $0.01 per share compared to a net loss of ($110,008) or ($0.01) one year ago. A total increase of $188,620 to the bottom line."

Sales for the second quarter were $701,156 giving a .7% increase over the $696,347 for the same quarter a year ago. Operating expenses for the second quarter were $294,828 compared to last year's second quarter of $312,699. For the first-half of fiscal 2002 ended December 31, 2001 operating expenses closed at $614,077 down from $648,292 one year earlier.

Resulting operational profits (before amortization, deprecation and taxes) were $82,363 or $0.01 for the second quarter and $154,097 or $0.02 per share for the first-half of fiscal 2002 compared to last year's second quarter operating profit of $30,292 or $0.00 per share and the first-half's operating profit of $10,687 or $0.00 per share.

Net profit for the quarter ended December 31, 2001 ended at $44,137 or $0.01 giving a first-half net profit of $78,612 or $0.01 per share. This compares to last year's second quarter net loss of ($30,056) or ($0.00) and a first-half net loss of ($110,008) or ($0.01) per share. The result is a $188,620 improvement in net profit this year over last.

CON-SPACE manufactures a wide range of voice communication equipment for people who work in hazardous areas or noisy environments. Its products consist of both Hardline and Two-way Radio Accessory equipment, which are used by militaries, government agencies, municipalities, fire departments, police units, rescue teams, and general industry throughout the world. The company also has a growing number of OEM clients who either "private label" CON-SPACE products or have products built specifically for them. This expanding OEM business is part of the company's long term growth strategy.

The Company's products were used in the search for survivors during the aftermath of the September 11th terrorist attacks on the World Trade Center in New York.

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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