Johnston Industries Fails to Meet NYSE Listing Requirements

COLUMBUS, Ga. - Johnston Industries, Inc. (NYSE:JII) announced today that Steve Marrandino has been named senior vice president of new customer development for the Greige Fabrics Division.

Harold Harvey, president of Greige Fabrics Division, stated, "Steve is one of the top talents in my organization. His latest assignment reinforces Johnston's long-standing commitment to grow along with our customers by developing new and innovative products first. Steve, with his high energy and creative levels, is already working on a number of exciting new opportunities."

In a separate development, Johnston Industries also announced that it has been notified by the New York Stock Exchange (NYSE) that it does not comply with the Exchange's proposed revised "continued listing" criteria. Under the NYSE's proposed "continued listing" criteria, which establish a higher standard for certain criteria than current "continued listing" criteria, Johnston Industries, Inc. has until September 23, 1999 to submit a plan to the NYSE demonstrating compliance with the proposed criteria by February 2001. If the company's plan is accepted by the NYSE, the company will be subject to quarterly monitoring for compliance with the plan. If the plan is not accepted, or if Johnston fails to raise its net worth and market capitalization to $50 million by February 2001, then Johnston will be subject to delisting by the NYSE. The company intends to file a plan, which it believes will be acceptable, in a timely manner and make contingency plans to allow for continued trading of the company's common stock on another exchange or market, if necessary.

Johnston Industries, Inc. manufactures and markets textile fabrics through four operating divisions. One of its subsidiaries, Johnston Industries Composite Reinforcements Inc. makes Vectorply(R) and other sophisticated non-crimp multiaxial reinforcing fabrics from fiberglass, carbon and aramid fibers used in a wide variety of applications.

This press release contains statements of a forward-looking nature regarding future events, These statements are only predictions and actual events may differ materially. Please refer to documents that Johnston files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.

Contact: Porter, LeVay & Rose, Inc. Martin Skala, VP Libby M. Roberge, VP-Media Nicholas Patruno, Investor Relations (212) 564-4700 or Johnston Industries, Inc. James J. Murray, Chief Financial Officer (706) 641-3140