Regency Affiliates, Inc. Announces 40% Fourth Quarter Earnings Increase And 29% Earnings Increase for the Year Ended December 31, 1999

Apr 14, 2000, 01:00 ET from Regency Affiliates, Inc.

    STUART, Fla., April 14 /PRNewswire/ -- Regency Affiliates Inc. ("Regency")
 (OTC Bulletin Board:   RAFF) announced that basic earnings per common share had
 increased 29% from $.14 to $.18 for the year ended December 31, 1999 compared
 to 1998.  Net income for the common shareholders increased from $1,727,000 for
 the year ended December 31, 1998 to $2,224,000 in 1999.  In the fourth
 quarter, Regency earned  $.07 per common share ($882,000) compared to
 $.05 ($566,000) for the fourth quarter of 1998, an increase of 40% in basic
 per share earnings.  The fourth quarter results include the operating results
 of Regency's majority owned Nasdaq listed subsidiary, Glas-Aire Industries
 Group Ltd. for the full quarter.
     Commenting on the results, Chairman William R. Ponsoldt stated that these
 results are a positive reflection of our strategy to acquire well managed,
 properly valued companies with proprietary products or services which can be
 enhanced to create value for our shareholders.  Mr. Ponsoldt further noted
 that the Company exceeded its goal of a 20% pre-tax return on beginning common
 shareholders' equity.  Looking forward to 2000, Mr. Ponsoldt commented that
 Regency continues to move toward closings on the acquisition Letters Of Intent
 previously announced.  He reiterated that any common equity used for
 acquisitions will not be dilutive to earnings.
     Certain statements and information included in this release constitute
 "forward-looking statements" within the meaning of the Federal Private
 Securities Litigation Reform Act of 1995.  Such forward-looking statements
 involve known and unknown risks, uncertainties and other factors which may
 cause the actual results, performance or achievements of the Company to be
 materially different from any future results, performance or achievements
 expressed or implied in such forward-looking statements.  Additional
 discussions of factors that could cause actual results to differ materially
 from management's projections, forecasts, estimates and expectations is
 contained in the Company's SEC Filings.
     For further information please visit the following websites: , , .

SOURCE Regency Affiliates, Inc.