Stearns & Lehman, Inc. (Nasdaq: SLHN), a multinational manufacturer and distributor of world-class specialty flavoring syrups, smoothies, granitas and other specialty beverage products announced today record sales and earnings for the second quarter ended October 31, 2000. The quarter ending October 31, 2000 set an overall record in sales for a quarter and also was the fifth consecutive quarter in which the Company set a quarterly record. Total sales were $5,310,076 for the quarter ended October 31, 2000 compared to $4,278,000 to the quarter ended October 31, 1999. This 24% increase in net sales is attributed to an increase in sales of private label brands, OSCAR'S brand of flavoring syrups and specialty frozen beverage products. Net income for the second quarter this year, which set an overall record for a quarter, was $500,105 or $0.15 per share compared to a net income of $400,930 or $0.12 per share for the same period last year.