ESTI Announces SMC Environmental Group Wins Million Dollar Contract.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 21, 2002 Environmental Strategies & Technologies International Inc. (ESTI ESTI European Solar Test Installation ESTI European Society of Thoracic Imaging ESTI Esthetician ESTI Easy Software Technologies, Inc (Philippines) ESTI Enhanced Self Timed Interface ) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ESTT ESTT Equivalent Safety Task Team ) announced today that SMC SMC Saint Mary's College SMC Santa Monica College SMC Solaris Management Console SMC Smooth Muscle Cell SMC Small Magellanic Cloud (also see LMC) SMC Safety Management Certificate (maritime shipping) Environmental Group (SMC) has won a contract from the State of Connecticut Department of Transportation The Connecticut Department of Transportation (ConnDOT) is responsible for the development and operation of highways, railroads, mass transit systems, ports, waterways and aviation facilities in the U.S. state of Connecticut. for the remediation of soil from an abandoned hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. site in Connecticut. SMC expects to generate approximately $1,000,000 in revenue from this contract. As previously announced, ESTI has signed an agreement to acquire SMC. The terms of the contract are for time and materials labor and materials (time and materials) n. what some builders or repair people contract to provide and be paid for, rather than a fixed price or a percentage of the costs. . SMC has been successfully bonded for this project and is expected to begin remediation work September 4, 2002. SMC expects that the contract work will be completed and payment received before the year's end. "I believe that this contract lays the foundation for significant growth opportunities for SMC Environmental. It demonstrates our ability to win million dollar plus contracts. We have a proven track record in receiving bonding for contracts that we bid upon," said Michael Mahan, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SMC Environmental Group. "SMC's next major milestone is to complete the sale to Environmental Strategies & Technologies International Inc. We believe this sale is important for us to maintain our growth rate and to lay the foundation for making SMC one of the serious competitors in the environmental remediation Generally, remediation means providing a remedy, so environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water for the general protection of human health and the environment or from a business." About ESTI Environmental Strategies & Technologies International Inc., is a holding company designed to invest in environmental technologies and corporations that will cross-sell and promote within its focused portfolio of products and services. About SMC Environmental Group SMC Environmental Group is a diversified Environmental Services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, Firm that consists of three operating entities -- SMC Environmental, SMC Advisors and SMC Capital. SMC is recognized by clients for its ability to provide cost effective solutions that integrate business, financial, technical and regulatory requirements. In association with strategic partners, the firm can bring to bear innovative technology and solutions that go beyond environmental management and extend into areas such as Information and Data Management, Environmental Liability Transfer and Strategic Consulting on Risk Management matters. This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of ESTIESTT to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that ESTIESTT will consummate the acquisition of SMC on terms beneficial to ESTIESTT, or at all. Other risks include the small size of SMC Environmental as compared to many of it competitors, the need for additional capital, dependence on key personnel, the frequency and magnitude of environmental disruptions, SMC's ability to win remediation and other contracts, SMC's ability to obtain bonding, the effect of new laws or regulations relating to environmental remediation and economic conditions. Discussions of factors which may affect future results are contained in ESTIESTT's most recent SEC filings on Forms 10-Q and 10-K. Other risk include the small size of SMC Environmental as compared to many of it competitors, the need for additional capital, dependence on key personnel, the frequency and magnitude environmental disruptions, SMC' ability to win remediation and other contracts and SMC ability to obtain bonding, the effect of new laws or regulations relating to environmental remediation and economic conditions. www.smcenvironmental.com |
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