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Gold/Mining/Energy : Kafus Environmental (KS) -- Ignore unavailable to you. Want to Upgrade?

To: Peter G. Mackey who wrote (112)	5/8/1998 9:16:00 PM
From: Peter G. Mackey	Read Replies (1) \| Respond to of 229

Another Press Release: FOR IMMEDIATE RELEASE MAY 8, 1998 KAFUS SUBSIDIARY' CANFIBRE REPORTS ON CONSTRUCTION OF RIVERSIDE MDF FACILITY Kafus Environmental Industries, Inc. (American Stock Exchange, symbol: KS, Frankfurt and Berlin Stock Exchanges, symbol: KAF and The Canadian Dealing Network, symbol: KFSS) Kafus Environmental Industries is pleased to report its subsidiary, The CanFibre Group Ltd has released the following update: "CanFibre of Riverside Inc., a wholly owned subsidiary of The CanFibre Group Ltd., is pleased to make the following progress report: All concrete foundations for the 140,000 square foot plant have been completed, with the steel structure for the building currently being erected. Plant machinery orders are on schedule and are being shipped and received as planned. In April, eighteen thousand tons of press parts arrived on site from Germany. The assembly of the 96 foot long CanFibre Steam Press has commenced on schedule. Dieffenbacher, the press manufacturer, is on site to supervise. In addition, the Steinemann Sander System has arrived with additional main equipment components such as the Forming Line, the Fibre Preparation System and the Finishing Line soon to follow. Stone and Webster's (S&W) operating staff are full-time on the CanFibre project site to ensure all aspects of the project are being completed as designed and within planned time lines. Overall, S&W represents project completion at approximately 41percent, while Engineering progress is 65.2 percent complete as at the beginning of April, 1998." Visit canfibre.com for NEW and ongoing construction photo updates. Direct all enquiries to: KAFUS ENVIRONMENTAL INDUSTRIES INVESTOR RELATIONS DEPARTMENT Toll Free (888) 333-5377 Tel (604) 602-1981 Fax (604) 685-2426 E-mail: kafus@direct.ca Website: www.kafus.com US Investor Relations Inquiries: Tony Francel (PBS): 941-698-8920 Jim Kaufman (H&N Partners) 805-493-9273 Vic Nostas (H&N Partners) 303-423-8301