KBF Pollution (fka KBFP)

[jobynimble]

KBF Pollution Management Announces First Quarter 2003 Financial Results

PATERSON, N.J., May 16, 2003 /PRNewswire-FirstCall via COMTEX/ -- KBF Pollution Management, Inc. (OTC Bulletin Board: KBFP) ("KBF"), a premier waste recovery company that recycles and mines metallic commodities from industrial wastes, today announced its financial results for the first quarter ended March 31, 2003.

Total revenue for KBF for the period ended March 31, 2001, rose to $1,010,694 from $946,576 for the same period in 2002. The increased revenues were mainly attributable to the expansion of KBF's recycling operations and increased investment in sales and assets necessary to complete KBF's corporate restructuring plan.

KBF's 10-QSB for the year ended 2002 disclosed that loss before interest, taxes, depreciation and amortization for the quarter ended March 31, 2003, was $(171,320) after adjustment for non-recurring and non-cash items totaling an additional $(82,742) relating to KBF's completion of its corporate restructuring plan which includes the Company's pending consolidation and merger with Veridium Corporation as well as its application for listing on the American Stock Exchange. These items, taken in conjunction with the impact of the substantial assets and revenues associated with the Company's recently completed acquisitions are expected to substantially strengthen the consolidated company's earnings and financial statements as it completes its planned merger with Veridium Corporation.

Upon completion of this merger, Veridium will develop its markets organically and acquisitively as a premier environmental services provider that uses state-of-the-art green technologies to recycle and mine commodities from industrial hazardous wastes. Revenues of the companies on a historical consolidated basis were in excess of about $13.8 million, $15.2 million and $17.0 million for the three years ending December 31, 2000, 2001 and 2002, respectively. The consolidated company's growth rate is expected to be in excess of 20% per year in the absence of additional acquisitions. The Company expects to generate $19 million in revenue with $2 million in earnings before interest, taxes, depreciation and amortization within the first twelve months of completion of the Veridium-KBF merger and in the absence of additional acquisitions.

KBF's 10-QSB for the first quarter ended March 31, 2003 is available online at www.kbf-pmi.com.

About Veridium Corporation

Founded on the premise that environmentally superior results can be cost-effective, Veridium is setting a new standard for environmental service with its focus on the use of state of the are green technologies to recycle, reuse and mine commodities from industrial hazardous wastes. Veridium's patented and proprietary technologies allow it to offer a much broader array of competitively priced industrial hazardous waste recycling services than any other recycling service provider in existence. Veridium expects to merge with KBF and to secure approval for the listing on the American Stock Exchange conditioned on the completion of the Veridium-KBF merger. The terms of the Veridium-KBF merger are expected to be resolved at KBF's next annual shareholder meeting, which will be held in Q3 2003. Veridium Corporation and Veridium Environmental Corporation are both currently wholly-owned subsidiaries of KBF Pollution Management, Inc. Additional information on KBF is available online at www.kbf-pmi.com. Additional information on Veridium and its business model is available online at www.veridium.com.

Safe Harbor Statement

The foregoing discussion contains forward-looking statements that are based on current expectations. Actual results, including the timing and amount of anticipated revenues, any implications with respect to shareholder wealth, or the Company's ability to scale its operations, may differ due to such factors as: regulatory delays; dealings with governmental and foreign entities; economic and other conditions affecting the financial ability of actual and prospective clients; and, other risks generally affecting the financing of projects. Additional risks associated with KBF's business can be found in its Annual Report on Form 10-KSB for the year ended December 31, 2002, and other periodic filings with the SEC. In addition, although the Company has submitted a listing application for its common stock with the American Stock Exchange, it does not satisfy all of the listing criteria of the exchange and it may be seeking a partial waiver of at least one of the listing criteria. No assurance can be given that the Company's common stock will be listed on the American Stock Exchange or if so listed, that any trading market will develop. KBF Pollution Management, Inc. trades on the over the counter bulletin board maintained by the NASD under the symbol "KBFP."

SOURCE KBF Pollution Management, Inc.


CONTACT: Corporate Relations, KBF Pollution Management, Inc.,

1-800-366-1426, fax, [phone], [e-mail]; Media,
Stephanie Stern, President, Stern & Co., [phone]

URL: http://www.kbf-pmi.com
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