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Technology Stocks : EUO - Eurotech, Ltd. -- Ignore unavailable to you. Want to Upgrade?

To: Heidi Hirst who wrote (555)	2/9/2000 9:57:00 AM
From: Heidi Hirst	Read Replies (1) \| Respond to of 565

EUROTECH, Ltd. at Final Stage of EKOR Application in Chernobyl / Adds CFO and Executive VP February 9, 2000 WASHINGTON, DC. EUROTECH Ltd. (OTC: BB:EURO) announced today the that testing of equipment and material on a mockup of the failed reactor site has been satisfactorily completed in Moscow, and the transition to the accident site in Chernobyl is in progress. At the request of Chernobyl's Shelter Project management, EUROTECH's aggressive schedule to make the first application several weeks ago into the high radiation area below the failed reactor, was adjusted to incorporate the use of robotics and do an application of EKOR on a mock pile of fuel-containing mass. A simulated accident site was recreated at the Kurchatov Institute where the inventors of the radiation-resistant EKOR from the EuroAsian Physical Society, Chernobyl Shelter Project and robotics engineers, configured pumps and delivery equipment to perform the task required in the Ukraine. The pumps were retrofitted with special intakes and long delivery hoses to pump the honey-like EKOR from a safe distance into a simulated high radiation area. The coating of EKOR satisfactorily sealed the irregular pile of lava-like mass, just as it will isolate the mass containing a half-ton of radioactive fuel in the first application of a long-term, radiation-resistant material since the nuclear accident of April, 1986. EUROTECH and The Shelter Project are very pleased with the test performance. The initial application will include two basic applications of EKOR. In low radiation areas, EKOR foam will be used to demonstrate application methods of radioactive dust suppression on dry and wet surfaces. In a high radiation area, EKOR film will encapsulate a fuel-containing mass with the use of robotics inside the sarcophagus. Photos of the actual pile and diagrams the application sites are may be viewed on EUROTECH's website eurotechltd.com. Upon completion of the initial application, the Project partners will be available for briefs, interviews, and joint announcements, currently being prepared. EKOR is the radiation-resistant material created for containment of the radioactive debris and fuel-containing mass resulting from the failed reactor at Chernobyl. EKOR, which has been test to 10 gigarads without degradation of properties, can contain the radioactive material for centuries. Its excellent adhesion, fire-resistant, and waterproofing properties are ideally suited to incorporate into nuclear waste management systems for which EUROTECH is aggressively marketing EKOR. Jon W. Dowie, CPA, CGFM was appointed as EUROTECH's Chief Financial Officer. He was formerly the Vice President and CFO for Research Planning Inc. He was Corporate Compliance Officer for Cincinnati Bell Info Systems, Ltd., and VP of Finance/Controller for Federal Information Technologies, Inc., EUROTECH's president, Don Hahnfeldt, said Dowie's background in high tech company finance adds strength to the management team, which is currently bringing breakthrough technologies to market such as EKOR and non-isocyanate polyurethane NIPU. Mr. Dowie will assist EUROTECH internally in establishing sound fiscal management practices as the company moves into its operations phase of development while externally providing corporate liaison to the financial community. Dr. Randolph A. Graves, Jr. was appointed Executive Vice President, bringing over thirty-five years of technology and business related experience in technology research, development, transfer, application and marketing. Dr. Graves, a former CEO of EUROTECH and current member of the Board of Directors, will be devoting his full-time efforts to furthering the Company's technology and business goals, With Dr. Grave's technology management experience and full-time commitment, EUROTECH will have the additional needed skills to accelerate the commercialization of the technology portfolios, said Chad Verdi, EUROTECH's Chairman. EUROTECH Ltd. is a diversified technology holding company formed to capitalize on business opportunities through the acquisition and commercialization of advanced technologies developed by prominent research institutes and individual researchers worldwide.