ERay: here's that press release you referred to.
COMPANY CONTACT: INVESTOR RELATIONS:
Albert E. Gosselin, President & CEO Phil Huss, Phoenix Alliance, Inc.
(818) 247-7601 (970) 259-7241
POLLUTION RESEARCH AND CONTROL CORP.
SIGNS $5 MILLION CONTRACT WITH CHINA
Glendale, CA - June 29, 1998 -- A.E. Gosselin, Jr., President and Chief Executive Officer of Pollution Research and Control Corporation (NASDAQ: PRCC) announced that its wholly owned subsidiary, Dasibi Environmental Corp. ("DEC"), signed a significant contract today with the Chinese Environmental Protection Agency (SEPA) to sell its monitoring units to SEPA. The signing ceremony took place at the Great Hall of the People in Beijing, China. The effective date of the contract is coincident with Ex-Im and Bank of China financing closure which is estimated at 20 to 30 days.*
Mr. Gosselin stated that "This Phase I contract, scheduled for completion this year, provides air pollution monitoring systems for 11 cities in China. Initially, each city will install a network of approximately 4 proprietary Dasibi systems around a central site location. Management estimates that an additional 40-100 systems will ultimately be required to effectively monitor air quality in each of these first 11 cities."*
Commenting further, Mr. Gosselin said "We believe that completion of this Phase I contract will lead to negotiations on a larger Phase II contract. As previously announced, PRCC has already won the critical 'designated vendor' status for this project, which management believes is an advanced entry point for future work."*
Presiding over the signing ceremony was U.S. Commerce Secretary Daley and a host of high level U.S. and Chinese officials. In attendance at the contract signing event were top executives from Boeing (NYSE: BA), IBM (NYSE: IBM), GE (NYSE: GE) and other prominent United States companies who were signing agreements with the Chinese government.
Pollution Research and Control Corp. primarily designs, manufactures and markets air pollution measurement instruments and medical instrumentation, nationally and internationally, through its wholly-owned subsidiaries Dasibi Environmental Corp. and Logan Medical Devices, Inc.
*These are forward-looking statements regarding financing which may be adversely effected by changing Southeast Asia currency values or other variable loan conditions and the possible sale of additional systems by DEC to China. There is no assurance that DEC will be awarded contracts to furnish any systems other than the initial systems.
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