IRI Introduces NS-600 to its Line of High-Performance Rubber Products.

Business Editors

BAKERSFIELD, Calif.--(BUSINESS WIRE)--Jan. 27, 2000

Industrial Rubber Innovations Inc. (OTCBB:IRIB) announced the introduction of NS-600, its latest high-performance proprietary rubber compound.

NS-600 was developed to address flashing temperature problems faced by North American oil companies during the pumping process. When processed with chemicals found in IRIB's original formula, IRI-500, this new compound provides heightened resistance to conditions related to extreme heat and steam. Preliminary tests show the rubber compound resists heat in excess of 650 degrees Fahrenheit.

According to IRIB Vice President Steven Tieu: &uot;We've conducted preliminary tests on the products made from this new compound and we believe that on oil wells where flashing occurs, these products will outperform anything currently on the market. Oil wells that flash often reach temperatures of 800 degrees to 850 degrees F, which can cause internal components such as rubber and even brass to suffer partial melting. The performance properties of these components are degraded, causing operating inefficiencies, which leads to leakage and costly production downtime. With these new products, oil companies worldwide can significantly reduce costs associated with production downtime. At this time, we have tested the compound only as it relates to this specific problem. Additional applications are expected and may require compound modifications.&uot;

Field tests are scheduled to take place near IRIB's headquarters in the Taft area of California, where oil companies commonly experience flashing problems. Field tests can take 30-90 days depending on the conditions of the well. Upon test completion, the products made from the NS-600 compound will be marketed in conjunction with IRIB's existing high-performance rubber product, IRI-500. Products are marketed through distributors to major oil producers, throughout the United States and Canada.

The company currently markets IRI-500 to the oil industry in various forms of stuffing box packing used above the surface of oil recovery wells under torturous conditions. IRIB's Veraton compound is currently being tested as high-pressure downhole seals for subsurface oil and gas well applications. NS-600 will be marketed for oil pump applications.

Forward-looking statements in this news release are made pursuant to the &uot;Safe Harbor&uot; provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, conditions related to the domestic and worldwide oil recovery industry, continued demand for the company's products and ability of the company to obtain financing necessary for continued operations.