KBF Pollution (fka KBFP)

[jobynimble]

KBF Reports 37% Increase in Revenue
PATERSON, N.J., May 23, 2002 /PRNewswire-FirstCall via COMTEX/ -- KBF Pollution Management, Inc. (OTC Bulletin Board: KBFP) ("KBF") yesterday reported a 37% increase in revenue for the three months ended March 31, 2002, with revenues of $946,576 as compared to $689,354 for the same period in 2001. The increase in revenues is attributable to increased contract demand from KBF's recent sales activities and the continued expansion of KBF's state of the art Recycling and Commodity Manufacturing center. KBF realized this increase in revenue despite the generation of historically low volumes of hazardous waste industry-wide in the first quarter.

Kevin Kreisler, KBF's president, said that "despite the production of historically low volumes of hazardous waste industry-wide during the first quarter and a continued economic downturn, we are pleased to report a 37% increase in revenue for the first quarter, reflecting the continued momentum of our upward growth trend. We have recently initiated service for several new large generators, some of which are Fortune 500 companies, and we expect continued increases in revenue in our core markets as our sales initiatives continue to produce exciting results and as the production of hazardous waste increases."

KBF's 10-Q for the three months ended March 31, 2002 additionally disclosed that earnings before interest, taxes, depreciation and amortization was of $(107,791) for the three months ended March 31, 2002, as compared to EBITDA of $19,564 for the same period in 2001. This decrease in earnings, as compared to the positive growth rate in earnings demonstrated throughout 2001, is predominately due to the increased costs of operations associated with the Company's recently expanded process capacity, which was developed in response to the Company's increased sales and the higher production levels of hazardous waste industry-wide in the third and fourth quarters of the year as well as the early portion of the first quarter 2002. Volume decreased in the latter portion of the first quarter 2002 due to the generation of historically low volumes of hazardous waste industry-wide. While hazardous waste production has returned to expected levels as of the middle of the second quarter 2002, the Company's cost of operations for the three months ended March 31, 2002 had increased to 87.9% of revenues from 80.8% of revenues for the same period in 2001. As a result of these increased costs and the temporary industry-wide decline in the production of hazardous wastes, the Company incurred a net loss of $(233,036) for the first three months of 2002, up from the net loss of $(73,598) for the same period in 2001. KBF's 10-Q for the three months ended March 31, 2002, available online at http://www.kbf-pmi.com, includes updates on ongoing significant developments, including KBF's planned acquisition of the environmental services division of R.M. Jones & Co., Inc.

About KBF Pollution Management, Inc.

KBF is a growth-stage company that is establishing itself as the premier recycling services provider in the nation. KBF's Paterson, New Jersey flagship recycling and commodity manufacturing center has been designed for the large-scale application of KBF's Selective Separation Technology(TM) ("SST(TM)") (U.S. Pat. Nos.: 5,753,125; 5,908,559; 6,254,782) and other patent-pending and proprietary resource recovery technologies. These process technologies separate, remove and recover a wide range of metals from liquid and solid wastes as well as other production and manufacturing media. Use of SST(TM) and its related processes enables KBF to competitively recycle a much broader array of hazardous and non-hazardous waste than any other recycling service provider that exists today. Wastes managed with KBF's technologies become products that are comparable and superior to the quality of virgin ore material extracted from the ground. Use of KBF's technologies eliminates the federally mandated "cradle-to-grave" liability for which a waste generator would otherwise remain perpetually liable. KBF's technologies apply to manufacturing, industrial and municipal waste processes that contain metals or otherwise produce a metal bearing waste by-product. KBF also provides regulatory compliance support services to its customers and is developing an environmental services business-to-business site called TSDonline.com(TM).

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, 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, 2001, and other periodic filings with the SEC. KBF Pollution Management, Inc. trades on the over the counter bulletin board maintained by the NASD under the symbol "KBFP".



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SOURCE KBF Pollution Management, Inc.


CONTACT: Joseph B. Schmidt of KBF Pollution Management, Inc.,

[phone], fax [phone], [e-mail]

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