KBF Pollution (fka KBFP)

[jobynimble]

Veridium Corporation Completes Merger
Consolidated New Company Expects to Commence Trading on October 20, 2003

PATERSON, N.J., Oct 15, 2003 /PRNewswire via COMTEX/ --

Veridium Corporation ("Veridium"), a premier environmental services provider that uses its patented and proprietary green technologies to recycle and mine commodities from industrial hazardous wastes, today announced the completion of its merger with KBF Pollution Management, Inc. (OTC Bulletin Board: KBFP).

The merger, which will become effective on October 20, 2003, marks the completion of a series of acquisitions and the consolidation of the former Environmental Services Division of R.M. Jones & Co., Inc. ("Jones"), Enviro-Safe, Corp., KBF Pollution Management, Inc., American Metals Recovery, Corp., New World Recycling, Inc., and Metal Recovery Transportation, Corp., with and into Veridium. The new consolidated company is expected to commence trading on October 20, 2003 on the over the counter bulletin board maintained by the NASD.

Veridium's president and chief executive officer, Kevin Kreisler, stated that "the consolidation of these companies into and the creation of Veridium is an exciting and momentous occasion in the environmental industry. We expect that the creation of Veridium will have compelling and lasting positive implications on all of our stakeholders as we scale into our consumer markets, leveraging the operational efficiencies made possible by our unique green technologies to recycle, reuse and mine all reusable resources from industrial hazardous wastes in a safe, compliant and profitable manner."

Veridium's business model is to develop its markets organically and acquisitively as a premier environmental services provider on the basis of the powerful competitive advantages driven by Veridium's patented and proprietary green technologies. Veridium currently holds an estimated 0.3% share of the $6 billion domestic hazardous waste management industry with about $16 million in annualized revenue. With an annualized growth rate of sales of more than 20%, Veridium expects its annualized revenues to be in excess of $19 million within its first twelve months of operations with earnings before interest and taxes, depreciation and amortization of $2 million in the absence of additional acquisitions.

Business Outlook

"Our primary tactical focus for the immediate term is on the completion of the integration of our various operations and the satisfaction of our immediate term profitability and revenue benchmarks. Everything we are working on right now is further to these initiatives. While we have realized consolidation-related savings over the past five months and we continue to refine operations, we expect that it will take the balance of 2003 to complete our integration process and to fully realize the accretive impacts of the consolidation. With record increases in volume in some sectors and white-hot consumer demand for our services, we continue to have strong operational and sales results. Our target is to be profitable in Q4 2003," added Kreisler.

To support the ongoing consolidation, Veridium recently secured nominal equity and additional term financing and refinanced its credit facility to enhance liquidity at lower cost. Other goals integral to the completion of Veridium's consolidation efforts include the additional refinancing of Veridium's existing debt facilities and the restructuring of the consolidated balance sheet with the conversion of pre-consolidation long-term debt and other liabilities into equity.

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 art 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's mission is to minimize and eliminate the need for disposal and reduce the burden on natural resources by recycling, reusing and mining all reusable resources from industrial hazardous wastes in a safe, compliant and profitable manner. 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 the Company's business can be found in the Company's predecessor, KBF Pollution Management, Inc.'s 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. The Company trades on the over the counter bulletin board maintained by the NASD.

SOURCE Veridium Corporation

Corporate Relations of Veridium Corporation, 1-800-366-1426,
fax - [phone], [e-mail]

http://www.veridium.com


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