Alberta Waste Resources - Reinstatement of Shares.

CALGARY, ALBERTA--(BUSINESS WIRE)--Oct. 24, 1996--Alberta Waste(Alberta Stock Exchange ALW.) ALW announces that The Alberta Stock Exchange has approved the reinstatement for trading of the Company's common shares on the Exchange and completion of the Company's Major Transaction as defined by Circular No. 7 of the Alberta Securities Act and Policy 4.11 of the Securities Commission. It is the Company's understanding that trading will be reinstated two days after dissemination of this News Release. The ASE has cleared a Filing Statement which discloses the Company's amended Major Transaction to that which was approved by the Shareholders on November 15, 1994. The Major Transaction completed by ALW is as follows,

i) the acquisition of Alberta Tire Collection Inc. ("ATC") in consideration for $22,000.00 in cash at time of closing; $20,000.00 to be paid from fifty (50 percent) per cent of the monthly net revenues until paid in full; 285,714 common shares of the Company issued from treasury; and assumption of all leases and outstanding debt of ATC, not to exceed $75,000.00.

ii) completion of a Private Placement of $500,000.00 for the sale of 2,500,000 common shares at a price of $0.20 per share.

iii) entering into a "Sale and Option Agreement" to lease and/or purchase up to thirty (30) acres located in the County of Wetaskiwin, on which the Company operates at tire recycling facility.

iv) receipt of the necessary permits and licenses for the proper government bodies for the operation of the tire recycling facility.

The Major Transaction was amended when the joint venture partner, contemplated in the original transaction, was declared insolvent and placed in receivership. It was the intent of the Company to establish a recycling facility within Alberta to process used automotive and industrial oil filters using the technology owned by this partner. In keeping with the basic terms of the Major Transaction ALW entered into an agreement to acquire Wildrose Recycling Inc., a lead acid battery recycling company permitted by Alberta Environment and owning a building and site in Wetaskiwin, Alberta. This transaction was rescinded and the shares of ALW were halted from trading on July 11, 1995 when a fire destroyed the battery recycling plant it was to acquire as its Major Transaction. In furtherance of establishing a recycling operation the Company acquired ATC, one of the Province's collectors and transporters of scrap tires. This provided ALW with a collection network for scrap tires for the tire recycling plant it was developing in Wetaskiwin. In the fall of 1995 plans were solidified to acquire an industrial tire shredder to process the Company's inventory of scrap tires and establish this tire recycling facility. On December 8, 1995 the Company's shares were suspended from trading on the ASE, due to failure to complete a major transaction within the time requirements. In early February 1996 ALW commenced operation of the tire shredder. Since this date the Company has processed over 500,000 tires and sold the tire shred to various markets which has included regional landfills and power plants. Gross revenues of ATC and ALW since the purchase of ATC in June 1995 has totalled in excess of $470,000. through the period ending June 30, 1996, with cash flow from operations in that period in excess of $109,000.

At the Company's Annual Meeting of the Shareholders held on August 19, 1996 Patrick Hare and Blaine Modin were new directors elected to the Board, while existing directors Frederick Cooke, Wayne Fisher, and Ron Mahlberg were reelected. ALW has extended the contract of MCP Inc., whose principal is Paul Bendzik, to supply investor relation services to the Company. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Alberta Waste Resources & Energy Corporation

Fred Cooke, 403/571-0070

403/571-0073 (FAX)

or

Alberta Waste Resources & Energy Corporation

Paul Bendzik, 403/571-0070

403/571-0073 (FAX)