Alanco Announces New Public Market Stock Repurchase Program

Business Wire, March 2, 1999

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 2, 1999--Alanco Environmental Resources Corp. (NASDAQ:ALANC) Tuesday announced that its board of directors has authorized the company to repurchase in the public market up to 500,000 shares of Alanco common stock, or approximately 10 percent of the current total shares outstanding.

The amount and timing of any purchases will be dependent upon a number of factors, including the price and availability of the company's shares and general market conditions. The repurchased shares will be held as treasury stock and be available for general corporate purposes.

The approved stock repurchase plan is in addition to a previously announced program (Jan. 20, 1999) to repurchase outstanding odd lot shares of its common stock at a price of $1.25 per share. That program remains ongoing and is expected to expire on March 15, 1999.

Alanco Chairman and Chief Executive Officer, Robert R. Kauffman stated, "This new stock repurchase program should further enhance shareholder value, as we believe our stock is an attractive investment. The stock is currently trading at less than 70 percent of book value."

Alanco Environmental Resources Corp. is an Arizona corporation headquartered in Scottsdale., primarily engaged in the environmental products and food service businesses.

The company's wholly-owned subsidiaries include Fry Guy Inc., (Scottsdale), Alanco Environmental Manufacturing Inc. (AEMI, Falls City, Neb.), and Alanco Beijing Environmental Technology Co., Ltd. (Beijing, China). Alanco is traded on the NASDAQ stock market under the symbol ALANC.

Note to Editors: This press release contains statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are inherently uncertain, and the actual results may differ from management's expectations.