DRYCLEAN USA, Inc. Reports First Quarter Results.

Business Editors

MIAMI--(BUSINESS WIRE)--Nov. 9, 2001

DRYCLEAN USA, Inc. (AMEX:DCU), today reported results of operations for the first quarter of fiscal 2002.

Revenues for the first three months of fiscal 2002 were $4,042,443 compared to $4,915,351 for the same period of last year. The Company reported a loss of $49,900, or $.01 per share, during the fiscal 2002 quarter, compared to a net profit of $267,282, or $.04 per diluted share, for the first quarter of fiscal 2001.

"The telecommunication segment is still being affected by the downturn in the economy which has depressed the telecommunications market," said Venerando J. Indelicato, Chief Financial Officer of the Company. "In addition," he stated, "the economy and the recent terrorist attacks have reduced hotel and cruise ship occupancies, which affect the principal customers of the laundry and dry cleaning division."

Mr. Indelicato also indicated that the Company has reduced its expenses to meet this challenge and that conditions are expected to improve before the end of the fiscal year.

DRYCLEAN USA, Inc. is one of the largest franchise and license operations in the dry cleaning industry and currently consists of over 400 franchised and licensed stores in the United States, the Caribbean and Latin America. Founded in 1960, its dry cleaning and laundry machinery division is one of the nation's leading distributors of industrial laundry, dry cleaning machines and steam boilers.