KBF Pollution (fka KBFP)

[jobynimble]

KBF Reports Record Earnings on 50% Increase in Revenue
PATERSON, N.J., Nov 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- KBF Pollution Management, Inc. (OTC Bulletin Board: KBFP) ("KBF") today reported a net income of $128,585 on a 50% increase in revenue for the three months ended September 30, 2002 , with recycling service revenues of $1,281,453 as compared to $853,240 for the same period in 2001. This increase is primarily due to increased market penetration resulting in an increased customer base and increased volume of hazardous waste recycled in KBF's state of the art recycling and commodity manufacturing facility during the third quarter of 2002. KBF's earnings before interest, taxes, depreciation and amortization (EBITDA) for three months ended September 30, 2002 were $273,508, up from $109,700 for the same period last year.

KBF's record third quarter earnings and recycling volume demonstrate the continued stability and strength of KBF's ongoing growth trend. Underscoring the significance of these results, Kevin Kreisler, KBF's president, said that "We are pleased with the recent strides we have made scaling our business and we are confident that we will see continued growth and significant demand in our core markets as our sales initiatives continue to generate exciting results. We expect our growth trend to continue with the generation of similar increases in the fourth quarter 2002 as compared to the fourth quarter 2001."

KBF's 10-QSB for the nine months ended September 30, 2002 additionally disclosed that total revenues for the period increased 28.7% to $3,034,423 from $2,357,322 for the same period last year. KBF's earnings before interest, taxes, depreciation and amortization for nine months ended September 30, 2002, as adjusted for the elimination of certain material non-recurring expenses, were $(101,040), down from $365,614 for the same period last year. This decrease is attributable to the increased costs described below as well as the generation of historically low volumes of hazardous waste industry-wide during the first half of the year and Management's retention of sufficient staffing and operational capacity during this time to manage KBF's continued projected long-term increases in volume. The increase in volume occurred in the face of significant organic attrition as most of KBF's customers produced and shipped lower volumes of hazardous waste due to general economic conditions. While KBF continues to increase its customer base to combat this attrition, certain of KBF's existing customers are increasing their production which Management expects will result in an increasing growth rate of recycling service sales into future periods. KBF's cost of operations for the nine months ended September 30, 2002 decreased marginally to 76.9% of revenues from 77.1% of revenues for the same period in 2001. General and administrative costs increased by 120% to $1,004,285 for the nine months ended September 30, 2002 from $457,071 for the comparable period in 2001. Selling expenses increased by 29% to $160,706 for the nine months ended September 30, 2002 from $125,053 from the same period in 2001. KBF's 10-Q for the nine months ended September 30, 2002, is available online at http://www.kbf-pmi.com and includes updates on ongoing significant developments.

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.

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.,

1-800-366-1426, Fax, [phone], or [e-mail]

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