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Gold/Mining/Energy : FASC (First American Scientific Corp)
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To: Jim K. who wrote (310)6/25/1998 9:10:00 AM
From: Wayne Rumball  Read Replies (1) of 972
 
June 24, 1998.

For Immediate Release
News Release

FIRST AMERICAN SCIENTIFIC CORP (FASC, NASD Bulletin Board) is pleased to announce
the following positive developments: The first KDS machine has been sold for an application to
process contaminated wood chips into a very fine powder which can be safely disposed. The
company purchasing this KDS machine has indicated a need for multiple machines to deal with
the quantity of wood chips that need to he processed. The potential for further sales could prove
to be significant.

This gives a lot of credibility to the process. Now others believe in the technology, not only the company.

FASC is in advanced negotiations with a European group in regard to a joint
venture for the processing of rubher chips to powder which in turn have multiple industrial
applications. Additional research is required and the European group is prepared to underwrite
this cost.

Oh those Europeans, want to use the thing to "rub her chips" :-)
At least they are willing to pay for the research.

Demand for gypsum in California has recently increased and we expect our Bakersfield plant to
be in full production in July, 1998. The unusually wet weather in Southern California has limited
production to date. FASC has also been approached to provide custom milling of a product in
quantities which would absorb the full capacity of the plant. This proposal is being evaluated.

This maybe not so good. Are they in the gypsum market or custom milling market? If they want to be in both they better start building more machines. Not good to jump in and out of a sector, leaving clients high and dry.

Progress is being made in the area of sludge and animal waste treatment. Details of proposed
programs will be released when beta testing has commenced.

Agreement in principal has been reached with the developers of the KDS technology whereby
the remaining balance outstanding will be settled for cash and shares.

Another debt out of the way.

FASC is in active negotiations with several funding sources for additional working capital. We
anticipate completion of these negotiations in the near future.

Great!
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