KBF Pollution (fka KBFP)

[jobynimble]

KBF Pollution Management Acquires Vulcan Waste Systems-Executes Purchaseand Sale Agreement for Acquisition of the Environmental Services Division ofR.M. Jones &. Co., Inc.
PATERSON, N.J., Apr 3, 2003 /PRNewswire-FirstCall via COMTEX/ -- KBF Pollution Management, Inc. (OTC Bulletin Board: KBFP) ("KBF"), a premier waste recovery company that recycles and mines metallic commodities from industrial wastes, today announced the acquisition of Vulcan Waste Systems, Inc. ("Vulcan"), a manufacturer of industrial and hazardous waste processing equipment, and the execution of a purchase and sale agreement for the acquisition of the Environmental Services Division of R.M. Jones & Co., Inc. ("R.M. Jones").

The Vulcan acquisition brings substantial assets to KBF, including two brand-new state-of-the-art hazardous waste incineration facilities built at a total cost of over $22 million. Each plant is expected to have an annual processing capability of more than three times that of KBF's existing hazardous waste recycling facility, based in Paterson, New Jersey. The new plants can be mobilized to service large contaminated properties on-site or be geared for the centralized processing of large quantities of hazardous wastes. Each plant can also be used to apply KBF's proprietary recycling technologies, which can recycle and mine selected inorganic hazardous wastes on-site at contaminated properties. These new plants are expected to be brought online as appropriate sites are located and permitting is completed.

Under the terms of KBF's agreement with Vulcan, the Vulcan acquisition is based on a formula tied to KBF's completion of its acquisition of the environmental services division of R.M. Jones and the liquidation value of the Vulcan assets, which is $7.16 million. This formula corresponds to a price per share of $0.265 of KBF common stock at 15% of KBF's issued and outstanding common stock on a fully diluted basis for 100% of Vulcan.

KBF further announced the execution by its subsidiary of a purchase and sale agreement for the acquisition of the Environmental Services Division of R.M. Jones and expects to close on this acquisition later this month.

Kevin Kreisler, KBF's president said "The consolidation of KBF, Vulcan and Jones will instantly catalyze our business model, and restructure and transform KBF into a leading environmental service provider with a broad array of unique offerings and a substantially strengthened balance sheet. We expect the consolidated organization to increase penetration in the regional markets through organic development and to expand into new contiguous markets through the acquisition of qualified regional hazardous waste service companies. We are very excited by these and other ongoing significant initiatives and their anticipated impact on our business model," added Kreisler.

About R.M. Jones & Co., Inc.

R.M. Jones was founded in 1962, and has been providing hazardous waste management services to clients throughout New England since 1980. R.M Jones has a large customer base, representing over 5,000 different industrial wastes, and a permitted distribution facility in Massachusetts. Jones has a seasoned management and sales team that is experienced in the requirements of hazardous waste service provision, and has developed a strong reputation for its provision of exceptional services. Its Massachusetts facility was the only facility in New England to receive the Environmental Information Ltd. award for perfect regulatory compliance in 1999, 2000 and 2001, and is expected to receive this award again for 2002.

About Vulcan Waste Systems, Inc.

Vulcan Waste Systems, Inc., was a former division of Kerns Manufacturing, Inc., a leading international producer of aerospace components. Vulcan currently generates no revenue from operations, but specialized in the engineering, manufacturing and distribution of specialized and proprietary hazardous waste processing equipment and has sold over 1,100 complete operating lines world-wide prior to being sold to KBF.

About KBF Pollution Management, Inc.

KBF 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 patented 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 these technologies 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 metal ores 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."

SOURCE KBF Pollution Management, Inc.


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

1-800-366-1426, or fax, [phone], or [e-mail]; or
Media - Stephanie Stern, President of Stern & Co. Communications,
[phone]
(KBFP)

http://www.prnewswire.com

Copyright (C) 2003 PR Newswire. All rights reserved.