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F&E RESOURCE SYSTEMS TECHNOLOGY, INC. ANNOUNCES TENTATIVE CLOSING DATE FOR PRINCE GEORGE'S, MD. COMPOSTING FACILITY

F&E RESOURCE SYSTEMS TECHNOLOGY, INC. ANNOUNCES TENTATIVE CLOSING
 DATE FOR PRINCE GEORGE'S, MD. COMPOSTING FACILITY
 BALTIMORE, Aug. 12 /PRNewswire/ -- F&E Resource Systems Technology, Inc. (FERST) (NASDAQ: FERS) was informed today by its Placement Agent, State Street Boston Capital Corporation, that a closing for FERST's second recycling/composting facility has been tentatively scheduled for Aug. 19-20, 1992. Subject to final review by legal counsel and the satisfaction of certain conditions, FERST will be loaned, at closing, $22,400,000 to construct a 340 ton-per- day municipal solid waste recycling and composting facility in Prince George's County, Md., a suburb of Washington. The plant will be owned and operated by subsidiaries of FERST.
 The Prince George's location will be the second recycling and composting project undertaken by FERST. The initial facility, a 700 ton-per-day plant located in Baltimore, is scheduled to begin full operation in early 1993. Ronald W. Pickett, president of FERST, said: "With this second facility in operation we will be in a position to provide an ecologically attractive solution by recycling almost 2 million pounds of solid waste each day. We believe FERST to be an industry leader in this technology and it is gratifying that the investment community also has faith in our prospects."
 F&E Resource Systems Technology, Inc. is a developer of recycling and composting facilities.
 -0- 8/12/92
 /CONTACT: Ronald W. Pickett, president and CEO, or James S. Schaefer, chief financial officer, F&E Resource Systems Technology, 410-354-3000/
 (FERS) CO: F&E Resource Systems Technology ST: Maryland IN: SU:


IH -- DC035 -- 9382 08/12/92 17:54 EDT
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Publication:PR Newswire
Date:Aug 12, 1992
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