October 19, 2001 — CARLSBAD, CA — Wilshire Technologies, Inc. reported sales of $25,000 and a net loss of $1,732,000, or $0.13 per share for the third quarter.

Net sales of $25,000 for the third quarter of 2001 were comparable to sales of $25,000 for the third quarter of 2000. Net sales decreased by $1,142,000 (88.0%) to $155,000 for the first nine months of 2001 as compared to $1,297,000 for the first nine months of 2000. The decrease in sales for the first nine months was due to the sale of the Wilshire Contamination Control Division to Foamex Asia Co. Ltd. on May 19, 2000. Sales essentially ceased at that time while the Company focused on development of a new polyurethane glove made with proprietary material supplied by DuPont. The company began production and sales of the new gloves in the second quarter of 2001.

The company has reported a net loss of $1,732,000 for the three months ended August 31, 2001 as compared to a net loss of $1,170,000 in the same period of 2000. For the first nine months of 2001, the company recorded a net loss of $4,695,000 as compared to a net loss of $$4,060,00 for the comparable period in 2000.

“During this past quarter, the Company launched the new DuraCLEAN with LYCRA glove into the US market and initial responses have been encouraging. In the second quarter, the Company focused its initial sales efforts in the Asian semi-conductor market,” said Kevin Mulvihill, president and CEO.

“Although sales efforts took longer than anticipated due to the general market slowdown, customer feedback following testing has been positive. We anticipate orders from several large semiconductor customers in the Asian market in the fourth quarter. Also, we are continuing to identify and approach new cleanroom market opportunities outside the electronics industry, ” he added.