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NNRF---NUCON-RF, Inc. Becomes Project Partner at Chernobyl

MOSCOW – MAY 25, 2006. NUCON-RF, Inc. announced that ATOMSTROYEXPORT ("ASE") and NUCON-RF have entered into an Agreement in which NUCON-RF will become the project partner and supplier to ASE of technologies and services in the Chernobyl Shelter Implementation Plan funded by the G-7 donor countries through the European Bank for Reconstruction and Development (“EBRD”) in Ukraine. The principal aim of the plan is to convert Chernobyl’s Reactor 4, destroyed by the 1986 nuclear accident, into an environmentally-safe site. http://new.chnpp.gov.ua/eng/articles.php?lng=en&pg=47

ASE was established in 1998, by the Ministry of the Russian Federation for Atomic Energy, in order to promote the export of Russian-made products for nuclear power projects abroad. ASE was created by merger of AO "Atomenergoexport" and VPO "Zarubezhatomenergostroy". These Russian government agencies had accumulated more than 25-years of experience with foreign countries in the construction, operation and modernization of nuclear power plants. http://www.atomstroyexport.ru/index-e.htm

A consortium led by Moscow based ASE has been awarded a contract for the stabilization of the existing shelter at Chernobyl that is contaminated with radioactive dust and debris. The contract -reference number SIP-07-1-001-02 - was signed between SSE Chernobyl and ASE on 15 July 2005. ASE has contracted with NUCON-RF to become their project partner under this contract to provide material(s), technologies and services that can reliably suppress and encapsulate radioactive dust. The project contract will address the immediate tasks of safety of the works.

NUCON-RF intends to apply an application of the technology known as NuCap™ licensed from a US company, Global Matrechs http://www.globalmatrechs.com NuCap™ is a highly radiation resistant silicon-geopolymer material engineered for encapsulation of radioactive wastes. There is an estimated 45 tons of radioactive dust at Chernobyl #4. NuCap™ has been tested at Chernobyl since 1999 and these tests have conclusively proven that NuCap™ is durable under the most extreme environmental conditions and is proven to be resistant to both radioactive environmental and corrosion conditions. It also has been proven to provide excellent encapsulation qualities. These will be necessary for final disposal in addition to the present task of radioactive dust suppression. DOW CORNING will manufacture the required NuCap™ material for NUCON under contract with Global Matrechs. NUCON-RF has agreed to purchase an annual quantity of 250 metric tons from DOW CORNING. NUCON-RF believes it will be able to quantify the quarterly revenues from this dust suppression project during the second quarter 2006. The Shelter Implementation Program is estimated to continue through 2009. Other NuCap™ applications are currently under application engineering reviews.

NUCON is a technical solutions company focused on high-end environmental markets in the Former Soviet Union, Eastern Europe and Asia. NUCON is a US Corporation and the executive and operations offices are located in Moscow, Russia. (http://www.nucon-rf.com)

NUCON-RF has the capability to provide product, technological and engineering support addressing a myriad of environmental, wastewater, power quality and radioactive waste challenges including, compliance, shielding, transport and storage requirements, plant equipment protection, energy efficiency and development of techniques for a broad range of radioactive and toxic wastes. NUCON-RF also has extensive in-house expertise in all aspects of radiological protection and radiological waste management.