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Technology Stocks : Solucorp Industries (SLUP - OTCBB) -- Ignore unavailable to you. Want to Upgrade?

To: High Grader who wrote (90)	5/5/1998 4:15:00 PM
From: robert a belfer	Read Replies (1) \| Respond to of 3679

Solucorp Industries Makes Announcement WEST NYACK, N.Y.--(BUSINESS WIRE)--May 5, 1998--Solucorp Industries Ltd. (OTCBB:SLUP) announced that the Securities and Exchange Commission (SEC) temporarily suspended over the counter trading in the securities of the company for the period from May 1, 1998 through May 14, 1998. The SEC release announcing the suspension indicated that it was based upon questions that have been raised concerning the accuracy and adequacy of public information about various aspects of the company's business. After the SEC suspension was announced, the company's attorneys contacted the SEC and were advised that the SEC has initiated an investigation into various matters concerning the company. The company has advised the SEC of its intention to cooperate fully with the SEC investigation. Further, the company has reviewed the issues set forth in the SEC release, both internally and with its attorneys, and the Company is confident that it will be shown to have acted properly and that it will be able to satisfy the SEC's concerns as to the questions raised in the SEC release. The SEC suspension relates solely to the trading in the Company's securities and has no direct effect in the company's business or operations. The company is continuing to move forward with its ongoing projects and with its negotiations for additional projects. Headquartered in West Nyack, with offices in Argentina, Canada, China, Puerto Rico and the U.K., Solucorp Industries focuses on the development and marketing of products which solve the needs of environmental markets. The company's Molecular Bonding System has the official status of a US EPA Superfund Innovative Technology, and is acknowledged as a permanent and cost-efficient stabilization technology for heavy metals in soils and industrial wastes. -0- The foregoing discussion contains forward-looking statements which are based on current expectations. Actual results, including the timing and amount of revenues recognized, contracts awarded and performed and net income may differ due to such factors as: delays in payment on contracts due to dealings with governmental and foreign entities; fluctuations in operating costs associated with changes in project specifications; economic and other conditions affecting the ability of prospective clients to finance projects; and other risks generally affecting the financing of projects.