Plastic2Oil Inc (PTOI)

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JBII (OTCQB) REPUDIATES SAIC REPORT!!:

THOROLD, ON--(Marketwire - Oct 12, 2012) - JBI, Inc. ("JBI" or the "Company") (OTCQB: JBII) has become aware of the improper release of a confidential executive summary prepared by SAIC Energy, Environment & Infrastructure, LLC ("SAIC") relating to SAIC's May 2012 evaluation report on JBI's Plastic2Oil ® ("P2O ®") technology.

As previously announced by JBI on May 15, 2012, the SAIC report was commissioned by JBI as an independent review of its technology, process and business model. However, neither the SAIC report nor the executive summary should be relied on as management's analysis or opinion regarding JBI's current strategic plan or its business or financial prospects.

Furthermore, the conclusions drawn by SAIC were based upon a number of assumptions made at the time of the report that may be outdated or incorrect or that may prove to be incorrect in the future. Management's current assumptions may differ and additional events, risks and uncertainties may cause JBI's actual results and performance to differ from SAIC conclusions or projections.