Concord Energy announces that its Kemco subsidiary has received two major sales contracts.

BERNARDSVILLE, N.J.--(BUSINESS WIRE)--August 17, 1995--Jerry Swon, president of CONCORD ENERGY INC. (Bulletin Board: CCNG), today announced that the company's KEMCO subsidiary has received two major sales contracts with a value totaling in excess of $1.3 million.

In the first two months of the current fiscal year alone the KEMCO contracts increase CONCORD ENERGY'S sales to over $5 million, Swon said. He further stated that CONCORD ENERGY expects to exceed total fiscal 1995 sales of approximately $7 million during the first half of fiscal 1996 which ends June 30, 1996.

CONCORD's KEMCO subsidiary provides gas plant design, construction and refurbishing services to the natural gas industry, with customers including many of the nation's major oil and gas companies.

The larger of the two KEMCO sales contracts, for a 450 GPM amine unit, was entered into with one of the nation's largest gas transmission companies. The second sales contract, for a 60 GPM amine unit, is with an independent oil and gas company.

CONCORD ENERGY INC. is a rapidly growing diversified energy company with interests in approximately 150 producing wells located primarily in Texas and Louisiana. CONCORD's well operating subsidiary currently manages field operations for about 20% of these wells, the majority of which range in depth from 7,000 to 15,000 feet and produce from prolific oil and gas formations.

CONTACT: Concord Energy

Jerry Swon, 908/766-1020

or

Howard Bronson & Company Inc.

Howard C. Bronson, 212/867-6160