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American Vantage Reports Results Loss for Q2

19 March 2002

LAS VEGAS--(Press Release)--March 18, 2002--American Vantage Companies (NASDAQ:AVCS) announced today the results of its operations for the three months ended January 31, 2002, its second quarter of Fiscal 2002.

Net loss for the second quarter of Fiscal 2002 was $619,000 ($0.13 loss per basic and diluted share) versus a $410,000 loss ($0.08 loss per basic and diluted share) for the same period in Fiscal 2001.

The net loss for the six months ended January 31, 2002 totaled $896,000 or $0.18 per basic and diluted share compared to a net loss of $987,000 or $0.20 per basic and diluted share for the six months ended January 31, 2001.

As a part of the Company's acquisition or merger strategy, an investment banker has been retained to evaluate potential candidates. Increased costs and expenses for the three and six month periods in Fiscal 2002 consisted mainly of financial consulting services and legal fees related to due diligence in connection with merger and acquisition activity.

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