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November 9, 2001

DRYCLEAN USA, Inc. Reports First Quarter Results

MIAMI -- (BUSINESS WIRE) -- DRYCLEAN USA, Inc. (AMEX: DCU), today reported results of operations for the first quarter of fiscal 2002.

Revenues for the first three months of fiscal 2002 were $4,042,443 compared to $4,915,351 for the same period of last year. The Company reported a loss of $49,900, or $.01 per share, during the fiscal 2002 quarter, compared to a net profit of $267,282, or $.04 per diluted share, for the first quarter of fiscal 2001.

``The telecommunication segment is still being affected by the downturn in the economy which has depressed the telecommunications market,'' said Venerando J. Indelicato, Chief Financial Officer of the Company. ``In addition,'' he stated, ``the economy and the recent terrorist attacks have reduced hotel and cruise ship occupancies, which affect the principal customers of the laundry and dry cleaning division.''

Mr. Indelicato also indicated that the Company has reduced its expenses to meet this challenge and that conditions are expected to improve before the end of the fiscal year.

DRYCLEAN USA, Inc. is one of the largest franchise and license operations in the dry cleaning industry and currently consists of over 400 franchised and licensed stores in the United States, the Caribbean and Latin America. Founded in 1960, its dry cleaning and laundry machinery division is one of the nation's leading distributors of industrial laundry, dry cleaning machines and steam boilers.

In addition to its wholesale and retail dry cleaning operations, DRYCLEAN USA, Inc., through its Metro Tel division, also manufactures telecommunications test equipment and peripheral telephone products.

This press release contains certain information that are subject to a number of known and unknown risks and uncertainties that may cause actual results, trends to differ materially from those achievements expressed or implied by the forward-looking statements. Information concerning such factors are discussed in the Company reports filed with the Securities and Exchange Commission.

                     DRYCLEAN USA, Inc. (AMEX: DCU)
                 CONSOLIDATED STATEMENTS OF OPERATIONS

                                         Three months     Three months
                                            ended            ended
                                         September 30,    September 30,
                                             2001             2000

Revenues                                 $ 4,042,443      $ 4,915,351

Earnings (loss) before
    income taxes                             (86,166)         445,482
Provision (benefit) for income taxes         (33,266)         178,200

Net earnings (loss)                          (49,900)         267,282

Basic earnings (loss) per share          $      (.01)     $       .04
Diluted earnings (loss) per share        $      (.01)     $       .04

Weighted average number
     of outstanding shares
Basic                                      7,001,250        7,001,250
Diluted                                    7,001,250        7,252,856

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