LOS GATOS, Calif., March 13 /PRNewswire-FirstCall/ -- BNS Holding Inc. (Pink Sheets: BNSSA) today reported its operating results for the quarter ended January 31, 2008. Net sales for the quarter ended January 31, 2008 were $77.5 million as compared to $58.8 million in the quarter ended January 31, 2007. Income from operations was $3.6 million in the quarter ended January 31, 2008 as compared to $1.6 million in the quarter ended January 31, 2007. Net income was $10,850 or $0.00 per share for the quarter ended January 31, 2008 as compared to a net loss of $831,554 or $(0.27) loss per share for the quarter ended January 31, 2007.

As of January 31, 2008, BNS Holding Inc. has approximately $47 million of U.S. Federal net operating loss carryforwards (NOL's) that expire between 2020 and 2026. Such NOL's are available to offset current and future Federal taxable income, subject to regulations of the Internal Revenue Service and the Internal Revenue Code.

On August 23, 2007, the Company filed a Form 15 with the Securities and Exchange Commission deregistering its Common Stock and suspending its reporting obligations with the Securities and Exchange Commission under the Securities Act of 1934. The Company presently intends to continue to make available its periodic financial information.

BNS Holding Inc. Common Stock is currently traded in the Pink Sheets under the symbol BNSSA.PK and the website is http://WWW.bnsholding.com. Collins Industries, an 80% owned subsidiary of BNS Holding, Inc., website is http://WWW.collinsind.com.



     Contact:  Terry Gibson
               Chief Financial Officer
               (401) 848-6300



    BNS Holding, Inc. and Subsidiaries

    Consolidated Condensed Statements of Income
    For the Three Months Ended January 31, 2008 and January 31, 2007

                                                     Three Months Ended
                                                         January 31,
                                                     2008           2007
    Sales                                        $77,482,053    $58,847,197
    Cost of sales                                 68,103,981     52,181,502
    Gross profit                                   9,378,072      6,665,695

    Selling, general and administrative expenses   5,812,569      5,092,770
    Income from operations                         3,565,503      1,572,925

    Other income (expense):
    Interest expense                              (2,856,629)    (2,707,355)
    Other, net                                      (340,466)      (198,612)

    Income (loss) before income tax (expense)
     benefit and minority interest                   368,408     (1,333,355)

    (Provision) benefit for income taxes            (168,844)       470,958

    Income (loss) before minority interest           199,564       (862,084)

    Minority interest                               (188,714)        30,530

    Net income (loss)                                $10,850     $ (831,554)


    Earnings (loss) per share, basic and diluted          $-        $ (0.27)

    Weighted average common and common
     equivalent shares outstanding basic
     and diluted                                   2,972,333      3,030,922



    BNS Holding, Inc. and Subsidiaries

    Consolidated Condensed Balance Sheets
    January 31, 2008 and October 31, 2007
                                                (Unaudited)       (Audited)
                                                January 31,       October 31,
    Assets                                         2008              2007
    Current Assets:
    Cash and cash equivalents                   $3,197,724        $3,387,243
    Receivables, less allowance for
     uncollectible accounts of $111,286
     in 2008 and $44,790 in 2007                14,285,200        13,808,239
    Inventories                                 38,212,533        44,602,637
    Deferred income taxes                        1,793,000         2,001,000
    Prepaid expenses and other current
     assets                                      1,657,516         1,479,942
        Total current assets                    59,145,973        65,279,061

    Restricted cash                                243,341           243,341

    Property, plant and equipment, net          31,124,771        30,038,601
    Assets held for sale                         1,650,000         2,000,000

    Deferred income taxes                        2,450,000         2,334,000
    Deferred financing costs net of
     accumulated amortization of $812,382
     in 2008 and $646,717 in 2007                2,426,306         2,591,970
    Goodwill                                    17,318,893        17,318,893
    Intangibles                                 24,768,101        25,118,280
    Other assets                                 1,396,416         1,004,098
        Total assets                          $140,523,801      $145,928,244

    Liabilities and Shareholders' Investment

    Current liabilities:
     Current maturities of long-term debt       $2,288,000        $2,288,000
     Controlled disbursements                    3,387,486         1,755,539
     Accounts payable                           12,697,643        16,753,240
     Accrued expenses and other current
      liabilities                               10,988,215        12,094,885
        Total current liabilities               29,361,344        32,891,664

    Long-term debt, less current
     maturities                                 88,632,502        90,467,476
    Minority interest                            4,082,510         3,893,796

    Shareholders' investment
    Class A Common Stock:  (January 31,
     2008 - 3,049,652 issued,
     October 31, 2007 - 3,043,652 issued)           30,497            30,436
    Paid-in capital                             87,206,689        87,188,259
    Treasury stock; 2008 and 2007, 74,319
     shares at cost                             (1,731,674)       (1,731,674)
    Retained earnings (deficit)                (67,006,313)      (67,017,163)
    Accumulated other comprehensive
     income (loss)                                 (51,754)          205,450
        Total shareholders' investment          18,447,445        18,675,308
        Total liabilities and shareholders'
         investment                           $140,523,801      $145,928,244

SOURCE BNS Holding Inc.