Wednesday September 13, 5:33 pm Eastern Time Press Release Rubber Technology Int'l Inc. Reaches Joint Venture Agreement for Project Appraised at $10 Million Cement Grade Sand Venture to Diversify RTI Into Las Vegas' Construction Supply Business LOS ANGELES--(BUSINESS WIRE)--Sept. 13, 2000-- Rubber Technology International Inc. (OTC BB:RTEK - news) today announced that an agreement has been finalized for the acquisition, through a joint venture, of the mineral interests of Grant Claims, LLC for the mining of sand at the Jean Sand Pit, located 16 miles southeast of Las Vegas. Rubber Technology International had previously purchased an interest in MRT Transportation of Nevada Inc., a processing and hauling company, and managed all of the operations of that company through a venture relationship. RTI, under its management agreement authority, made a decision to liquidate MRT Transportation of Nevada. All tangible assets were liquidated in early 1999. A joint venture agreement has now been reached, and RTI is in a position to move forward with plans for the operation of sand extraction from the Jean Pit once the agreement has been formally closed. These interests have been appraised to exceed $10 million by an independent appraisal. With this acquisition, Rubber Technology Int'l will immediately have a 55 percent joint venture interest in the Jean Pit, at a substantial discount to appraised value. The company also has an option to later acquire the remaining 45 percent from the joint venture partners. The Grant Claims consist of a 1,920-acre site estimated to contain more than 200 million tons of Nevada Department of Transportation-certified natural material sand. These claims are in close proximity to Las Vegas-based construction companies, which allows RTI to capitalize on the construction activity in one of the fastest-growing cities in the United States. About Rubber Technology International Rubber Technology International, located in the industrial section of Los Angeles, is a leader in the tire-recycling industry. The company is paid to receive scrap tires and offers an environmentally friendly method of turning recalled and used tires into useful products by manufacturing crumb rubber, which is in ever-increasing demand for molded goods such as traffic delineator bases, topping for horse arenas, safety material for playgrounds and as an ingredient in rubberized asphalt. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, without limitation, continued acceptance of the company's products, legislative and marketplace changes, and governmental regulations affecting the company's operations. For further information, see the company's Web site, located at www.RubberTechnology.com.
Contact: Rubber Technology International Inc., Los Angeles Barbara Young, 323/268-6842 BYoung@RubberTechnology.com www.RubberTechnology.com or PMR & Associates, LLC Patrick Rost, 760/942-0015 PMRandCO@aol.com
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