EFTI Announces a Tire Pyrolysis Letter of Intent

    TAMPA, Fla.--Sept. 6, 2002--EarthFirst Technologies, Incorporated (OTCBB:EFTI) announced today it has signed a Letter of Intent ("LOI") with Tire Recyclers, Inc. ("TRI") to construct and operate a commercial tire pyrolysis plant at TRI's existing tire recycling facility in Charles City, VA. The new tire pyrolysis plant is designed to convert an average of 100 tons-per-day of used automobile tires into valuable recycled products, including scrap steel, No. 3 grade oil and, most notably, high quality carbon black. EFTI believes the carbon black produced will offer tire manufacturers, for the first time, the opportunity to produce recycled automobile and truck tires.
    TRI's Charles City tire shredding operation currently processes over 3 million tires per year, which is the volume of tire throughput needed for the pyrolysis plant. EFTI and TRI have both made considerable investments in testing different approaches to tire pyrolysis and, based on the lessons learned, have identified a preferred technology provider with a proprietary pyrolysis process that will be implemented at the Charles City plant. The permits required for the addition of the pyrolysis equipment at the Charles City site have already been obtained. EFTI plans to complete the development and financing of the project and commence construction early next year.
    John Stanton, Chairman, President and CEO of EFTI commented, "The Charles City site offers us a fast-track opportunity to become the leader in the tire pyrolysis business. We are pleased to be working with a like-minded partner who understands the tire recycling business in Virginia. Both companies are committed to creating valuable, environmentally superior products from waste materials. We are delighted to deliver on a promise made to EFTI's shareholders last year when we promised a thoughtful review of the tire pyrolysis industry and a reinvestment in this sector if our analysis uncovered adequate economic advantages and credible technology. We have now found both."
    Charles Ayers, Director of TRI, said, "We have been a leader in creating and implementing Virginia's progressive tire recycling program and are very pleased to be adding an important new dimension to recycling this valuable resource in Virginia. We are excited about being able to utilize EFTI's development and management expertise to make the pyrolysis project a reality and a success."
    EarthFirst Technologies, Incorporated and its subsidiaries (OTCBB: EFTI), www.earthfirsttech.com, are dedicated to creating valuable, environmentally superior products from carbon-rich solid and liquid materials currently considered waste products. The Company has conducted more than four years of extensive research and development on advanced technologies to achieve this goal.
    The information set forth in this press release relates to future events and expectations and as such constitute "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "believes," "anticipates," "plans," "expects," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of EFTI to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Such factors include, among others, those listed under Item 1 of the Form 10-KSB and other factors detailed from time to time in EFTI's other filings with the Securities and Exchange Commission. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this release. EFTI has no specific intention to update these statements.