JBI, Inc. Hires Michael Kaplanis as Vice-President, Mergers & Acquisitions and Strategy

NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB:JBII) announces that Michael Kaplanis has been appointed as its Vice-President, Mergers & Acquisitions and Strategy. In this capacity, Mr. Kaplanis will be responsible for assisting JBI with accretive acquisitions, forming national and international P2O growth strategies, providing green energy analysis and helping to execute JBI's business model.

Michael graduated in May, 2006 Summa Cum Laude with a Bachelor of Arts, Biological Anthropology and Anatomy; History Minor, from Duke University, Durham, NC   He was elected to Phi Beta Kappa in spring 2006 after completing a four-year curriculum in three years with a GPA 3.90/4.00.  While at Duke, he was a member of the men's varsity football team and was a three year Atlantic Coast Conference Athletic Honor Roll honoree.

Mr. Kaplanis was recently employed as a Senior Associate -- Global Equities Energy & Utilities Group with Citadel Investment Group, LLC Chicago, IL where he was responsible for stock selection, quantitative risk analysis, portfolio construction and position sizing in a $250 million gross market value, beta neutral, long-short equities portfolio.  While at Citadel, he provided fundamental research and investment insight to the Portfolio Manager in the $1.85 billion Global Energy L/S Portfolio.  Michael built financial models and was responsible for full coverage for fifty-eight companies in the regulated utility, diversified utility, merchant power and electric service sub-sectors of the U.S. Utility Industry.

Previously, he served as an Investment Banking Analyst in the Global Power and Utilities Group with Morgan Stanley, New York, NY, where he advised corporations on various transactions including: corporate mergers and acquisitions, asset acquisitions and divestitures, equity and debt offerings, leveraged buyouts, credit assessments, dividend analysis and share repurchases. At Morgan Stanley, he performed extensive financial modeling including: accretion/dilution, discounted cash flow, leveraged buyout,comparable company and precedent transaction analysis.

Mr. Kaplanis' leadership positions include: Co-Program Coordinator for the Investment Banking Division's Incoming Analyst Training Program, Co-Head of the Operations Committee for Analyst Council Core Team and member of the Analyst Council.

As a summer intern while attending Duke he was assigned to the Private Client Group - Banking Strategy of UBS Global Wealth Management and Business Banking  Weehawken, NJ.  He assisted in quarterly forecasting and financial modeling for Small Business Lending program and the Credit Card launch  Michael also analyzed competitor capabilities and programs and assisted in the creation of new internal broker memorandum.

Mr. Kaplanis has a keen interest in clean technology, smart grid deployment, next generation energy sources and green initiatives.

Michael Kaplanis commented, "When I studied JBI's business model, I was immediately impressed with the Company's dynamic growth potential and, in particular,  the global expansion possibilities that I envision for its unique P2O technology. I look forward to enabling and accelerating JBI's growth through accretive acquisitions and leveraging  P2O strategies."

John Bordynuih, JBI's  CEO / President, concluded, "I am thrilled with Mr. Kaplanis' appointment. Michael is a highly-qualified professional leader, who brings important expertise to our growing and experienced management team.  His successful background, analytical talents, business acumen, and energetic drive will clearly benefit our aggressive growth model."

About JBI, Inc.

JBI, Inc. is transitioning to become a global technology leader whose purpose is to mine data from JBI's large information archive, find under-productive entities to inject our superior proprietary technologies into, and benefit from increased productivity and profitability, beginning with Plastic2Oil. JBI has also acquired the following operations:

JAVACO, Inc. ("Javaco") is part of the Supplier Diversity Network, WBENC. JAVACO, Inc. currently distributes over 100 lines of equipment from fiber optic transmitters to RF connectors. To further enhance business in the United States, new distribution lines are frequently being added including a line of home theater and audio video products. Javaco will operate and manage the Company's Plastic2Oil sites in Mexico.

Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery system (liquid cleaner in a water soluble sachet) Pak-It can deliver glass cleaner, disinfectant, multi-purpose, and many more cleaning products (42 products currently) shipped in tiny packages of condensed cleaner (inside a 'dry' 1 quart container). This delivery method is "green" since it's fully biodegradable and saves thousands of dollars in shipping. The user simply adds water to the container without measuring or cutting the Pak-It. Large retailers and many national Building Service Contractors already using the product have documented significant cost savings from shipping, training, inventory control and space.

Accordingly, our revenue sources presently include (i) income from reading archived tapes (including microfiche) from clients such as NASA, (ii) income from the recently acquired Javaco, Inc., (iii) income from the sale of Pak-It products, and a bulk chemical facility which we realized beginning October 1, 2009, and (iv) from the anticipated commencement of operations in the first quarter of 2010 with Plastic2Oil, a process and service that converts plastic to fuel oil. For more information, please see http://www.jbiglobal.com/">http://www.jbiglobal.com and http://www.javacoinc.com/">http://www.javacoinc.com and http://www.pakit.com/">http://www.pakit.com/.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of JBI, Inc., and members of its management as well as the assumptions on which such statements are based.

Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.