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INNOVATIVE ENVIRONMENTAL SERVICES LTD. LETTER OF INTENT SIGNED

 VANCOUVER, British Columbia, March 4 /PRNewswire/ -- Innovative Environmental Services Ltd. ("IES") (Alberta: INV) today announced the signing of a letter of intent respecting the proposed acquisition of Louisiana-based Churchill Environmental Services Inc., a corporation which provides site assessment, clean-up, appropriate treatment, transportation and disposal of hazardous/toxic waste materials. The letter of intent contemplates that IES will purchase all of the outstanding shares of Churchill in exchange for a combination of freely trading common shares of IES and additional IES common shares to be escrowed on an earn-out basis. IES and Churchill have entered into negotiations to reach a formal agreement. Any such agreement will be subject to approval of the Alberta Stock Exchange.
 Completion of the proposed acquisition would launch IES into the hazardous/toxic waste treatment industry. Churchill specializes in Magnetic Offset Logging (3-D) capabilities and soil treatment contaminant destruction. The turn-key services Churchill provides for its clients can be handled either on-site or at commercial facilities.
 IES is near completion of its acquisition of Transenviro Inc., a California-based corporation specializing in wastewater treatment technology. The Churchill acquisition would provide a complementary business to the Transenviro operations.
 -0- 3/4/93
 /CONTACT: Shannon Squyres of Corporate Relations Group, 714-955-1860, for Innovative Environmental Services/
 (INV.)


CO: Innovative Environmental Services Ltd.; Churchill Environmental
 Services Inc.; Transenviro Inc. ST: British Columbia IN: ENV SU: TNM


KJ-LS -- LA009 -- 2818 03/04/93 09:04 EST
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Publication:PR Newswire
Date:Mar 4, 1993
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