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ENVIROMINT HOLDINGS RECEIVES COURT RULING CONFIRMING CONTRACT TO ACQUIRE PATENT OF ITS CAN-PACTOR

 DALLAS, Jan. 26 /PRNewswire/ -- EnvirOmint Holdings Inc. (OTC Bulletin Board: ENVM) announced today that at a hearing held on Jan. 19, 1993, at the U.S. Bankruptcy Court, District of Nevada, the judge re-confirmed the contract under which the patent and other assets pertaining to the EnvirOmint Can-Pactor operations were acquired. The judge recessed the hearing to Feb. 11, 1993, to permit Es-Tech International Inc. time to obtain and present additional documentation in connection with the closing.
 The company entered into a contract on April 15, 1992 with Es-Tech International Inc. and Ellis Manufacturing Inc. to acquire certain assets for stock, cash and royalty payments. The assets consisted of manufacturing equipment, inventory, patents, and other technology related specifically to the manufacture of EnvirOmint's Can-Pactors.
 In September of 1992, Es-Tech filed for protection in the U.S. Bankruptcy Court in Nevada and sought for rescission of the contract. The company believed that the Es-Tech bankruptcy filing was made in bad faith and has been involved in litigation with Es-Tech asking the bankruptcy court to confirm the asset sale and purchase agreement. At a hearing held on Oct. 19, 1992, the court confirmed the contract in favor of EnvirOmint Holdings. The company filed a counter-claim for damages including litigation costs which is scheduled for trial in April.
 Charles S. Christopher, chairman and chief executive officer, stated that "We are pleased with this progress in the court proceedings and are looking forward to a final closing."
 The EnvirOmint Can-Pactor is a patented reverse vending machine which crushes aluminum cans and dispenses cash along with a manufacturer's or merchant's discount coupon. The company has a total of 24 Can-Pactors installed in major supermarkets throughout the greater Denver area. Recently, the company received additional funding of $500,000 and intends to install an additional 20 Can- Pactors in the near future at designated supermarkets in the Denver area.
 -0- 1/26/93
 /CONTACT: Fran Daniels of Financial Sciences of America, 310-278-4413, for EnvirOmint/
 (ENVM)


CO: EnvirOmint Holdings Inc.; Es-Tech International Inc.;
 Ellis Manufacturing Inc. ST: Texas, Colorado IN: SU: CON


JL-LS -- LA007 -- 8950 01/26/93 09:33 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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