To: jmhollen who wrote (1561 ) 9/19/2002 6:27:15 PM From: Keith Fauci Respond to of 1579 More good news. I like the way the company does not constantly dilute shareholder value by issuing new shares every time we turnaround. Aquatic Cellulose Announces New Plan to Convert Waste Fiber From Operations > Into Cost Effective Energy Solution; Company Submits ElectroMab > Co-Generation Proposal to Brazilian Hydroelectric Operator Electronorte > > VERNON, B.C. Canada, Sept., 19th, 2002 -- (BUSINESS WIRE) -- > > Aquatic Cellulose (OTCBB : AQCI) announced today that it has submitted a > proposal to Electronorte (EN), operator of Brazil's Tucurui Dam, to > establish a power co-generation facility at Tucurui Reservoir, converting > forest canopy harvested by AQCI and other waste fiber into electricity for > use in the region. > > "Co-generation and ElectroMab are exciting new elements of our growth > strategy," said Gary Ackles, chief executive officer of Aquatic Cellulose. > "By cost effectively converting waste from our operations into an energy > solution, we not only strengthen our commitment to environmental protection > and economic and social development, but also enhance our growth plan by > adding a significant new revenue stream. Sales from by-products of > co-generation, including heat, steam, primary gases and charcoal, will > further contribute to our revenue. It is truly a win-win for all parties > involved. > > "ElectroMab offers a real solution to mitigating the adverse environmental > impacts caused by flooding this once living rainforest. By removing all of > the timber from Tucurui Reservoir, including the visible forest canopy, > water quality, navigation, fish habitat, and dam efficiency will be > significantly improved and greenhouse gas emissions effectively reduced. Our > proposal also enables EN to fulfill its objective to clear the submerged > forest safely without jeopardizing the lives of local divers." > > Under the proposal, Aquatic Cellulose, through its EcoMab subsidiary, will > supply waste fiber for the co-generation facility to produce over 50 > Megawatts (MWh) of electricity. EN will provide logistical support as well > as secure a long-term power purchase agreement. "We have interested third > parties who have committed to financing the entire project," said William > Stephaniuk, chief operating officer of Aquatic Cellulose. "The Preliminary > Study, which we recently submitted upon EN's request, indicates a strong > feasibility for this project." > > Said Andre Belanger, the consultant who commissioned the study, "ElectroMab > makes economic and environmental sense for Electronorte and Brazil. Although > Tucurui Dam has over 8000 MWh of hydroelectric capacity, the ongoing drought > in Brazil and energy demands from its developing economy have placed an even > greater need for new cost-effective energy solutions. Electromab offers such > a solution at a minimal capital investment." > > Mr. Ackles concluded, "While co-generation is an exciting evolution in our > operating plan, it is but the beginning of a number of new initiatives we're > planning to venture beyond our core business and add further value to our > shareholders. We're excited by today's announcement, and we look forward to > sharing news of our other operating plans in the future." > > > About Aquatic Cellulose > > Aquatic Cellulose International Corp. (OTCBB : AQCI) is a leading underwater > timber and forest products company. AQCI operates in Brazil using the > revolutionary Aquatic Timber Harvester, or ATH. The ATH is a commercial > machine that utilizes patented robotic technology to safely locate, cut and > recover timber under water without risking the lives of divers. Aquatic > Cellulose specializes in the commercial recovery and processing of this > nonliving resource to offer high-quality wood products that protect living > forests and the environment. > > > This press release contains statements that constitute forward statements, > as defined in the Private Securities Litigation Reform Act of 1995. > Forward-looking statements inherently involve risks and uncertainties that > could cause actual results to differ materially from the forward-looking > statements. Factors that may cause or contribute to such differences > include, among other things, the Company's dependence on one customer, > seasonality of the Company's retrieval business and risk of future losses > from operations. Other risks and uncertainties include changes in business > conditions and the economy in general, changes in governmental regulations, > unforeseen litigation and other risk factors identified. The Company > undertakes no obligation to update these forward-looking statements for > revisions or changes after the date of this press release. > > The NASD OTC has neither approved nor disapproved of the information > contained herein. > > FOR FURTHER INFORMATION PLEASE CONTACT: > Aquatic Cellulose International Corp. > Gary Ackles > CEO > (250) 558-5410 > or > Aquatic Cellulose International Corp. > Michael Lacy > Manager of IR > (250) 558-5410 > Email: info@aquaticcellulose.com > Website: www.aquaticcellulose.com > or > Equitilink, LLC > Ronald Garner > Communications Director > 1-877-788-1940 > Email: ron@equitilinkpr.com > Website: www.equitilinkpr.com > >