TUCSON, Ariz., May 18, 2004 (PRIMEZONE) -- Environmental Technologies, Inc. (Pink Sheets:EMTI) is pleased to announce that Mr. John Hedges is vacating the position of President to become Chairman of the Board of Directors and Chief Operating Officer of the Company.
The Board of Directors welcomes Harold J. Clifford as the new president of the Company. To this post, Mr. Clifford brings a wealth of experience in business administration, marketing strategy and financial markets, as well as extensive exposure at the senior levels in public, media, and investor relations. Following a 4-year stint as the plant manager of a Gulf Oil chemical subsidiary, Harold has spent most of the last 30 years in the Investment and Finance fields, including serving as a director of Investment Research for a Toronto Stock Exchange member in the 1970s and, in the 1980s, as Manager of Retail Investment Research, National Media Spokesperson for investment policy and an officer of Merrill Lynch Canada Inc. Harold was founding president of Nexus Investor Relations in the mid-1980s, before accepting the position of director and senior vice president of Aronos Multinational Inc., which company was involved in gold exploration & development in the Sierra Madre of Northern Mexico. On accepting his new post, Harold commented, "I am very enthused regarding the commercial potential of Environmental Technologies' Finder technology in today's marketplace, particularly in light of the broad range of leading edge applications that sublimely address numerous highly critical security issues around the globe."
Environmental Technologies' products currently being developed for specific market applications include short and long-range detection devices that can be hidden in clothing, or on valuables, and that will emit signals to loved ones or owners of articles. The technology provides a capability that is ideal for families living in fear of their children being kidnapped, or of having elderly family members, suffering from dementia or any other form of memory loss, wander off aimlessly without their loved one's knowledge. Alarmingly, kidnapping in North America has risen to an all-time high of over 800 persons per day! Another promising application, "Find-A-Shipment", will enable real-time tracking and up-to the-minute delivery progress to maximize just-in-time delivery service. The Company's first product to have come onto the market, Computer Guard, protects a laptop or desktop computer user's information by rendering the computer useless whenever the authorized user is away from the machine. Laptop computer theft has emerged as an international epidemic in recent years.
Environmental Technologies believes that its product range admirably addresses many of these critical security needs, and that the marketplace will enthusiastically receive them as they are introduced.
The statements made in this press release, which are not historical facts, contains forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.