Former Chairman & CEO of Federal-Mogul Joins Environmental Processing Systems, Inc. as Chairman

1 March 2000

Former Chairman & CEO of Federal-Mogul Corporation Joins Environmental Processing Systems, Inc. as Chairman

    GARDEN CITY, N.Y.--March 1, 2000--The Board of Directors of Environmental Processing Systems, Inc. [EPS], a Garden City, NY-based firm, appointed Dennis J. Gormley, former Chairman and CEO of Federal-Mogul Corporation, to the position of Chairman of the Board.
    EPS manufactures fine rubber powders from waste tires and other scrap rubbers. At its Charleston, S.C. flagship facility alone, the company can produce 150 million pounds of fine rubber powders a year, the industry's largest output. Sold under the trade name, PolyDyne, by EPS subsidiary Precision Polymer Resources, Inc., these fine rubber powders are used in a variety of applications, including: tires, automotive parts, thermoplastic goods, industrial and construction products, chemical compounds, paints, coatings, sealants, adhesives, and consumer goods.
    Citing Gormley's more than 30 years of experience in international sales and manufacturing, primarily in the automotive industry, James Randall, EPS' Chief Executive Officer, characterized Gormley's appointment as timely. "As EPS begins to commercialize and expand, Dennis brings strategic, management, and operational expertise to the Board while demonstrating our intent to participate successfully in the global marketplace."
    Randall also noted that, "Gormley's deep ties to the automotive industry, the strongest market for EPS' fine rubber powders, will enable us to continue to cultivate relationships with customers in that industry."
    Responding to his appointment, Gormley said, "I'm pleased to have the opportunity to join Environmental Processing Systems, Inc. at this critical juncture. As global manufacturers become increasingly more efficient, they are challenged to continue to control and reduce costs. EPS offers these companies lower raw material costs and better product performance. I believe EPS is in a unique position to capitalize on these market opportunities."
    Gormley was associated with Federal-Mogul Corporation , the Southfield, MI-based global manufacturer and distributor of non-discretionary auto parts, from 1963 to 1996. He became COO of Federal-Mogul in 1988, assuming the position of President and CEO the following year, then becoming Chairman in 1990, a position he held until 1996. Gormley currently is a member of the Board of Directors of the Cooper Tire & Rubber Company. A graduate of Rensselaer Polytechnical Institute, Gormley served the Detroit community through his Board positions with the United Way of Southeastern Michigan and Economic Club of Detroit, among others.

    Environmental Processing Systems, Inc. is headquartered at 1000 Franklin Avenue, Garden City, New York 11530 and can be reached via telephone at 516-873-9264, fax at 516-873-9823, email at info@ppr-inc.com or on the web at www.ppr-inc.com.

    Editors: A photo of Dennis J. Gormley can be downloaded at www.prr-inc.com.