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Zoltek Reports Carbon Fibre Sales Increase

21 May 2004

Zoltek Companies has reported significant increases in carbon fibre sales and operating results for the quarter ended March 31, 2004.

For the first time since the acquisition of the Hungarian operation in 1996, Zoltek's quarterly combined sales of carbon fibres and technical fibres exceeded its sales of specialty, non-core products -- $8.4 million to $7.6 million.

This was due to increased sales of carbon fibres (up $1.7 million, or 55%, compared to the second quarter of fiscal 2003) and because of Zoltek's further steps to exit from the acrylic and nylon textile business in Europe (with sales of that business down $1.8 million to $7.6 million in the quarter just ended compared to the second quarter of fiscal 2003).

As a result of offsetting effects of increased carbon fibre sales and reduced sales of textile fibres, Zoltek's total revenues of $15.9 million for the second quarter of fiscal 2004 were almost identical with those of 2003's second quarter. Rumy said that Zoltek's carbon fibres business was on track to profitability given the planned expansion of manufacturing at the Abilene facility to meet the expected demand based on continuation of recent positive sales trends. The Company believes that the increased production at the Abilene plant will reduce and, eventually eliminate, its available unused capacity expenses, which expenses are absorbed in manufacturing costs as production at the Abilene plant increases.






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