Summit Environmental (SEVT)

[Wise Investment]

LONGVIEW, Texas--(BUSINESS WIRE)--July 10, 2001--Summit
Environmental Corporation Inc. (OTCBB:SEVT) announced today a final
agreement has been offered by the China Tianfa Group Corporation to
become the Company's exclusive products distributor in China.
"Wholesale prices for products have been agreed upon and a royalty
of 5% on all sales to end users would be payable to Summit when
subsequent wholesale reorders are placed," stated Keith Parker, CEO
Summit.
Tianfa Group is a multi-faceted holding company that houses China
Power 28 Company, Hubei Tianfa Petroleum Co., Ltd., China Tianrong
Modern Agriculture Co., Ltd. and China Suaelun Paper Co., Ltd. and has
Y 10,000,000 (RMB) in total assets. Tianfa has been listed on the
Chinese Stock Exchange since 1996.
In another development, a group from Vancouver, BC that has been
negotiating for the rights to China notified Summit Environmental last
Thursday, July 5, 2001, of their interest in formalizing relations
that have been ongoing for six months. They informed management that
their representative would be at the home offices to meet with
management on Tuesday July 10, 2001.
During May 2000, Summit was selected as one of 24 companies from
across the United States to be published in the U.S. Chamber of
Commerce's Faces and Trades and to be presented before the United
States Congress as examples of small companies that could benefit from
the passage of the PNTR agreement that would allow China membership in
the World Trade Organization.
Summit's Keith Parker was one of four company CEO's that spoke
before the U.S. Senate subcommittee on exports, taxes and tariffs.
Parker was also selected from the group to be interviewed on National
Public Radio.
This interview regarding the importance of trade with China was
broadcast the morning of the day on which the vote for normal trade
relations was taken and successfully passed by both houses of the
United States Congress.
"Since I returned from Washington D.C. last May, we have had
active negotiations on a continuing basis regarding our products in
China. We are almost ready to execute the agreement with Tianfa. Their
desire for exclusive rights has given us the option of private
labeling with the other group. Our strategic alliance partnership
concept has hit a home run with the China Tianfa group," states
Parker.

EXCEPT FOR THE HISTORICAL INFORMATION CONTAINED HEREIN, THE
MATTERS SET FORTH IN TODAY'S PRESENTATION ARE FORWARD-LOOKING
STATEMENTS WITHIN THE MEANING OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE
FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT
MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY. THESE FORWARD-LOOKING
STATEMENTS SPEAK ONLY AS OF THE DATE HEREIN. SUMMIT DISCLAIMS ANY
INTENT OR OBLIGATION TO UPDATE THESE FORWARD-LOOKING STATEMENTS.

--30--SF/ph*

CONTACT: Summit Environmental Corporation Inc.
Keith Parker, 800/522-7841

KEYWORD: PENNSYLVANIA TEXAS
INDUSTRY KEYWORD: BANKING CHEMICALS/PLASTICS

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