SAN DIEGO, Ca--Aug. 11, 1995--Myriad Industries Inc.
        (Myriad), (OTC BULLETIN BOARD: MRAD) is pleased to announce the
        company has entered into a Capital Contribution and Debt
        Cancellation Agreement with Conversion
Industries Inc.
, Myriad's largest creditor.  As of July 31, 1995, Myriad owes
Conversion $7,554,057, including principal and interest, for loans previously
        advanced by Conversion.  Conversion is presently in Chapter 11
        Bankruptcy proceedings, and the agreement is subject to the approval
        of the Bankruptcy Court.  Under the agreement, Conversion has agreed
        to make a capital contribution to Myriad of $7,544,057 in exchange
        for 250,000 shares of Series 3 Convertible Preferred stock
        redeemable at $1 per share, and a Stock Purchase Warrant for 500,000
        shares of Class A Common stock exercisable at $0.50 per share.  The
        agreement also grants Myriad an option to purchase shares of 300,000
        Class A Common stock and 500,000 shares of Convertible Preferred
        stock owned by Conversion for $850,000.  The agreement with
        Conversion will have a substantial positive impact on Myriad's year
        end 1995 financial statements.  Due to Conversion's debt
        cancellation, Myriad will have an increase to shareholders' equity
        of $7,544,057.


            In addition, Myriad also signed an agreement with its second
        largest creditor, a San Diego based financial group, that will
        convert a $500,000 loan owed to them by Myriad to equity.  Under
        this agreement the financial group will receive 1,000,000 shares of
        Class A Common stock and 500,000 warrants for converting the loan to


        Myriad's stock is listed on NASD OTC market under the symbol "MRAD."

        /CONTACT:  David Webb, manager of Corporate Communications of Myriad
        Industries, 619-677-6562/