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Life Energy & Technology Holdings Inc., Biosphere Process Systems Permitted to Operate in Louisiana; LETH's Biosphere Process Systems Enter the US Marketplace.

Business Editors

UTICA, N.Y.--(BUSINESS WIRE)--July 29, 2003

Life Energy & Technology Holdings, Inc. ("Life Energy") (OTCBB:LETH)(Deutsche Borse DE:LFT) announced today that the Biosphere Process(TM)(a) System has been permitted to operate in The State of Louisiana.

The State of Louisiana Department of Environmental Quality (DEQ) has permitted Life Energy's client Green Energy Management, LLC (GEM) to install and operate the Biosphere Process(TM) System in Louisiana. The Biosphere Process is a waste-to-energy operation that will generate electricity using various waste streams.

For the first 90 days the Biosphere Process will use construction, renovation, and demolition waste and/or tires as "feedstock." Five tons per hour will be "gasified" to operate the Biosphere and can generate up to five (5) megawatts per hour of excess electricity.

During the first 90-day period, GEM shall test for PM10, SO2, NOX, and VOC emissions using methods acceptable of the DEQ. After the 90 days a report of the test will be supplied to the Permits Division of the DEQ and other state and federal government environmental agencies.

Announcing the permitting of the Biosphere Process(TM) System to operate in the United States, Dr. Albert Reynolds (former Prime Minister of Ireland 1992-1995) and Chairman of Life Energy & Technology Holdings Inc., said, "This is not just an important milestone for Life Energy and for our Biosphere Process(TM) System, but is indeed a major landmark in the development of Life Energy as a company." Reynolds goes on to say, "LETH looks forward to this permit to be the first of many permits that will be granted in the United Sates and expects to obtain permitting in other locations in the United States in the near future."

Phil H. Nugent, Chairman of Green Energy, said, "Now that GEM/LETH are permitted to operate the Biosphere Process(TM) System by the Louisiana Department of Environmental Quality, we are immediately opening the door to promote this environmental friendly technology throughout the United States. Green Energy estimates that Louisiana will be a significant advantageous showcase for this revolutionary new technology based on present engineering principles, which will benefit generations of Americans by providing for the safe and effective disposal of waste materials while creating clean safe Green Energy in the form of electricity. It is our intention with LETH as our partner to introduce the Biosphere Process(TM) technology throughout North America."

Nugent goes on to say, "This permit will allow Green Energy a platform in which to prove and certify the Biosphere's low emissions using certain feedstocks such as auto and truck tires and construction and demolition debris. Revenue will begin once the Biosphere is in full operation. Revenues from the disposal of tire waste should generate between three and five million dollars annually. The company will generate additional revenue from the sale of excess electricity to the grid."

About Green Energy Management, LLC

In April 2003, Green Energy agreed to purchase its initial Biosphere Process Systems(TM) from Life Energy for USD $7 million per system and has an option to purchase and/or joint venture up to an additional 1000 Biosphere Process Systems(TM) over the next 60 months. The Biospheres will be deployed in several southern and mid-western states to process municipal waste, petroleum related hazardous and industrial wastes, agricultural waste and auto and truck tires.

About Life Energy & Technology Holdings Inc. (http://www.le-th.com)

Life Energy is rapidly becoming a leader in the environmental infrastructure and electricity co-generation markets. Life Energy's unique proprietary technology, EcoTechnology(TM)(b), generates electrical energy through a profitable and environmentally safe process. The Biosphere Process(TM) System, a central part of Life Energy's EcoTechnology(TM), safely and efficiently processes traditional and non-traditional waste materials and/or traditional fuels into electricity and other beneficial by-products. The Biosphere Process(TM) assists in solving the global waste problem by converting into clean, green electricity such waste materials as: Municipal Solid Waste (MSW), agricultural wastes, forestry wastes, agricultural and industrial effluents, medical wastes, industrial wastes, used tires, sewage sludge, shale oil, sour natural gas and many other traditional and non-traditional waste materials.

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

(a)Biosphere Process & Biosphere are copyright trademarks of the Life Energy Partnership 1995 and the Company.

(b)EcoTechnology is a copyright trademark of the Life Energy Partnership 1995 and the Company.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 29, 2003
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