To: Jim Bishop who wrote (4862 ) 7/23/1999 12:49:00 PM From: SSP Respond to of 150070
TEXN - Friday July 23, 9:30 am Eastern Time Company Press Release 21st Century Technologies Announces Testing of Sea Patch by Major Oil Company Ft. WORTH, Texas--(BUSINESS WIRE)--July 23, 1999--21st Century Technologies Inc. (OTC BB:TEXN - news; ''TEXN'') Friday announced that the Sea Patch has been delivered to a major oil company for testing. With an increase in environmental penalties for oil spills, the Sea Patch provides an immediate solution by plugging ''leaks'' and hull ''fissures'' that stop seepage by using cam-on and cam-off magnetic technology. The Sea Patch uses rare earth magnets to grip the ship's hull with a plate that has rubber gaskets. When applied to the ship's hull the rubber gaskets stop the leak with a magnetic force many times greater than the leak. ''The testing involves putting the Sea Patch through a series of simulated leaks to determine how much pressure it can withstand,'' stated Ken Wilson, chairman of the board. ''We are confident that the Sea Patch will meet or exceed expectations,'' added Wilson. To date, the maritime and oil industry has not been able to identify a means to stop oil spills and leaks in ship's hulls. The market for the Sea Patch is ''untested'' with no known competitors to date. The Sea Patch technology is licensed to TEXN's Trident subsidiary through a technology transfer from the Los Alamos Laboratory in New Mexico. TEXN will announce the results of the testing as soon as it is completed. ''It is too early to evaluate the economic value of the Sea Patch,'' stated Wilson, who noted that ''the Sea Patch was introduced last Fall 1998 to rave reviews in London at a maritime and dry dock salvage show. The acid test for any new product is whether you get orders for product after testing.'' For more information about the Sea Patch line of products or to schedule a test, contact Wilson. Financial Statements in this news release other than historical facts are ''forward-looking'' statements within the meaning of Section 27A of the Securities Act of 1933 as amended, Section 21E of the Securities Exchange Act of 1934 as amended, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about its future expectations, including future revenues and earnings, and all other forward-looking statements (i.e. future operational results and sales) involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. -------------------------------------------------------------------------------- Contact: 21st Century Technologies Inc. Ken Wilson, 800/334-3573