SETO Announces Results for Year Ending January 31, 2002

SETO Holdings, Inc. (OTCBB: SETO) announces for the fiscal year ending January 31, 2002 net sales at $5,642,015, income from continuing operations at $559,636 and earnings per share $.04.

FOR IMMEDIATE RELEASE

Contact:      Gene Pian
                   SETO Holdings, Inc.     Tel: (914) 923 5000    Fax: (914) 923 6225
                  e-mail: stiandecs@aol.com

         SETO Announces Results for Year Ending January 31, 2002

BRIARCLIFF MANOR, N.Y.-(BUSINESS WIRE)-April 30, 2002 -- SETO Holdings, Inc. (OTCBB: SETO) announces for the fiscal year ending January 31, 2002 net sales at $5,642,015, income from continuing operations at $559,636 and earnings per share $.04.

Net sales increased 14.2% and income from operations increased 85.5% as compared to fiscal year 2001 ended January 31, 2001.

The gross profit in fiscal year 2002 increased 21.7% from $1,823,711 to $2,030,862 compared to fiscal year 2001, and the gross profit margin increased 2.9% from 42.9 % to 45.8%. These gross profit margins are expected to continue at this same level.

All subsidiaries are now profitable and continue to grow.

The 10K for year ending January 31, 2002 will be available by Wednesday, May 1, 2002 on our web site www.setoholdings.com and on EDGAR.

The new SETO Overview and Corporate Profile has been updated recently to reflect the restructuring and focus of SETO Holdings Inc. worldwide.

About SETO Holdings, Inc. Founded in 1975, SETO Holdings, Inc. operates as a broad based technical manufacturer and distributor in three major product groupings: Technical Products to industry, inclusive of diamond tools, wafer fab supplies and technical ceramics; and Consumer Products such as batteries, chargers and accessories for industrial and consumer products and Contract manufacturing services.
Please visit the Company's web sites: www.SETOHOLDINGS.com, www.stidiamond.com, www.ecsceramics.com, www.setoEmall.com, www.hk-batteries.com.hk

Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The companys actual results could differ materially from those anticipated in the forward-looking statements as a result of certain factors including sales levels, distribution and competition trends and other market factors.