Terra Energy & Resource Technologies Inc. (TEGR)

[Stock Lobster]

CompuPrint Files Proxy Statement to Change Company's Name to Terra Energy & Resource Technologies, Inc.; New Name Better Reflects Company's Business Model and Natural Resource Technology Platform

Business Wire via COMTEX

Sep 12, 2006 8:08:08 AM

NEW YORK, Sep 12, 2006 (BUSINESS WIRE) --

CompuPrint, Inc. (OTCBB : CPPT), an energy technology company that combines satellite-based technology with traditional exploration services, announced today that it had filed with the Securities Exchange Commission proxy materials for the November 3, 2006 shareholder meeting to approve and authorize the reincorporation of the Company as a Delaware corporation named Terra Energy & Resource Technologies, Inc. The proxy materials are subject to review and comment by the SEC prior to mailing, and are presently expected to be mailed to shareholders in early October 2006. Upon receipt of shareholder approval, the Company also expects to change its ticker symbol.

"We intend to change the name of the Company to Terra Energy & Resource Technologies, Inc., to better reflect the continued expansion of our business into new markets," said Roman Rozenberg, CompuPrint's Chief Executive Officer. "The Company is in the process of expanding its South American customer base for oil and other natural resource projects, as well as growing its diamond exploration projects business. Recently, we announced that the Company has been retained by a major international oil company to assess the potential of oil and gas leases in an off-shore Africa project. We have also acquired leases for off-shore, and an interest in on-shore, diamond projects in Africa. The upcoming name change should enable us to broaden our following among the investment community and attract greater interest in the potential for the Company's proprietary STeP(R) technology's ability to significantly reduce costs and materially enhance and speed the potential for successful exploration projects."

About CompuPrint, Inc.

CompuPrint, Inc., through its wholly owned subsidiary, Terra Insight Corporation, provides mapping, surveying, and analytical services to exploration, drilling, and mining companies. The Company primarily uses the STeP(TM) technology, which facilitates the prediction and location of commercially viable deposits of hydrocarbons, gold, diamonds, and other natural resources. It manages and interprets geologic and satellite data to develop the assessment of natural resources. Through the Company's wholly owned affiliate, Terra Resources, Inc., the general partner in three limited partnerships we control, the Company owns leases for oil and gas exploration parcels totaling more than 16,000 acres of land in the Rail Road Valley and White River Valley areas of Nevada, and participation in leases in East Texas and in South Texas for purposes of utilizing its STeP(R) technology in oil and gas exploration and development activities. The Company also has a 20% working interest in 1,000,000 acres in leases for oil exploration in Eastern Turkey, and a six percent working interest in a diamond exploration project on more than 1,000 square kilometers in Republic of Congo. For more information visit http://www.terrainsight.com.

This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. There are many factors that could cause the Company's expectations and beliefs about its plans to acquire additional exploration properties, plans to drill or drilling results to fail to materialize: competition for new acquisitions; unavailability of capital; unfavorable geologic conditions; prevailing prices for oil, natural gas and other natural resources; and general regional economic conditions.

SOURCE: CompuPrint, Inc.

For CompuPrint, Inc. Terra Insight Corporation CEOcast, Inc. Andrew Hellman, 212-732-4300

Copyright Business Wire 2006