IEMI Announces Strategic Plan for 2002

    HOLLYWOOD, Fla.--Jan. 22, 2002--Harold Solomon, president of IEMI (OTCBB:IEME.OB) announces the company's strategic plan for 2002. In the December 2001 issue of Waste Age magazine, R.W. Beck found that the solid waste industry generated total revenues, net of intra-industry payments, of $43.3 billion in 1999. It is time to increase IEMI's market share of this $43.3 billion in revenues. IEMI has three signed letters of intent and has had discussions with several additional potential acquisition targets. It is the intent of IEMI to turn the letters of intent into purchase and sale agreements. The plan is to finalize our first acquisition by the end of the first quarter and close on the transaction early in the second quarter. We intend to finalize our second acquisition by the end of the second quarter and close early in the third quarter. Our third acquisition should be finalized in the third quarter and closed in the fourth quarter of 2002. The company's ability to fund these acquisitions is dependent in part on obtaining adequate funding. However, the company has undertaken a financing program of convertible debentures, which it anticipates will provide funding for these acquisitions. Funding for the first acquisition should be available, beginning in the next 30 days.
    Based on the unaudited financial statements we received, from our acquisition targets, these three acquisitions should increase the company's revenues from approximately $1 million to approximately $7 million. We are not stopping there. While we are closing these acquisitions, we will be working on additional acquisitions.
    It is the goal of management to make the acquisitions in a manner that will enhance the company's revenue stream and provide healthy cash flow. We will acquire companies that complement our recycling and environmental focus. We will grow at a steady pace in a manner that will give us the best possibility for long-term growth and profitability.

    This document contains certain forward-looking statements regarding IEMI, including statements about its operations, prospects and expectations about future financial results, including, but not limited to future revenues and earnings. The words "estimate," "anticipate," "possible," "seeking" and similar expressions identify forward-looking statements which speak only as to the date the statements are made. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially and are subject to change at any time. IEMI's results could differ materially from expected results. IEMI undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2000, filed with the Securities and Exchange Commission as well as subsequent reports filed on Forms 8-K and 10-QSB.