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METALCLAD HOLDS ANNUAL MEETING OF SHAREHOLDERS

 NEWPORT BEACH, Calif., Nov. 18 ~PRNewswire~ -- Metalclad Corp.'s (NASDAQ: MTLC) Environmental Services Division is engaged in the development of hazardous waste management facilities in the states of San Luis Potosi and Veracruz, Mexico. Metalclad is also engaged in insulation services and insulation material sales to customers primarily in California.
 On Friday, Nov. 13, Metalclad held its annual meeting of shareholders in Newport Beach. During the course of the meeting, Grant S. Kesler, the president and chief executive officer of the corporation, gave a detailed report on 1992 and what is expected for 1993. A summary of that report is as follows.
 General
 -- Engagement of Raymond James & Associates for investment banking services, as well as working with Hambro Resources Development Inc. on the creation of a strategic partnership alliance;
 -- Added new board members Jorge Hermosillo Silva, Jose A.R. Rodriguez, Alan J. Borner and Lee A. Deets;
 -- Restructuring of Metalclad's core business is complete. Prior losses have been reversed and profitability is expected to be shown for the fourth quarter with marginal profitability for the year; and
 -- The core business is now healthy and has a bright future as a result of expected enforcement of new clean air act regulations on refineries and power plants in California.
 Summary of Announcements Regarding Mexican Projects
 -- Engagement of Hambro Resources Development Inc. for placement of project financing and creation of a strategic partnership alliance;
 -- Development of a management team headed by Deets for both development and operation of the projects in Mexico;
 -- Completion of design basis engineering by ICF Kaiser for plant construction;
 -- Metalclad has acquired an additional 17 percent of Eco Administracion, giving it a total of 67 percent. Full acquisition of 100 percent is expected by year end, with high incentives for continued Mexican participation;
 -- Engagement of Shearman & Sterling of Washington D.C. to represent Metalclad in Mexico;
 -- Suspended the immediate development of a catalytic extraction processing facility but is securing a permit to develop such a facility in Mexico and maintain rights to the technology in Mexico; and
 -- Provided five-year income and expenses summary forecast that indicated the first hazardous waste management facility in Mexico will have revenues of $70 million its first full year of operations, with a gross profit of $46.6 million and EBIT of $25 million.
 A copy of the complete president's report is available upon request.
 -0- 11~18~92
 ~CONTACT: Elgin Williams, director of investor relations of Metalclad, 714-476-2772~
 (MTLC)


CO: Metalclad Corp. ST: California IN: SU:

KJ-JL -- LA004 -- 2185 11~18~92 09:01 EST
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Date:Nov 18, 1992
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