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Urecoats Signs Two Licensing Agreements

20 September 2000

Urecoats Signs Two Licensing Agreements; Rubber Sealant Membrane System Delivery To Northeast

    POMPANO BEACH, Fla.--Sept. 19, 2000--Urecoats Industries Inc., through its wholly-owned subsidiary Urecoats International, Inc., has entered into initial commercial agreements licensing the use of the URECOATS 100(TM) RUBBER SEALANT MEMBRANE (RSM)(TM) and its proprietary primary spray delivery system.
    These commercial relationships will allow Urecoats Industries Inc. to begin its planned penetration in the Northeastern United States of the general construction industry and to utilize the Company's flagship sealant product, as a roofing material, waterproofing sealant, anti-corrosive, and vapor barrier.
    Cooper Roofing, Inc. of Levittown, Pennsylvnia, and its principals, Chuck Goss and Paul Cooper, have been granted a license to use the Urecoats composition, delivery system and technology in a five county area, including Philadelphia, Delaware, Lancaster, Bucks and Montgomery counties in Pennsylvania, as a roofing material/system. Under the terms of this agreement, Cooper Roofing was also granted the right to acquire up to 25 primary delivery systems within a two-year period.
    Eastern Construction, Inc. in Bergen County, New Jersey, and its President Joseph Klecko, have been granted a license to use the Urecoats composition, delivery and technology in the general construction industry. Under the terms of the agreement, Eastern Construction was also granted the right to acquire up to 5 delivery systems within a two-year period. Eastern Construction will address the use of the Urecoats products specifically for structural and steel construction, concrete sealant, waterproofing, and roofing.
    Urecoats has completed training personnel for support of the agreements at its Pompano Beach, Florida, headquarters. A Technical Support Team is accompanying the first delivery and commercial use of the URECOATS 100 RSM(TM) and its proprietary primary spray delivery system this week in the Northeast. Three buildings covering 75,000 square feet are scheduled for application over the next 7 days.
    Larry T. Clemons, President and COO, Urecoats Industries, stated, "These are the first of many developments that are already in motion. The exciting aspect of these agreements is that Urecoats Industries will be producing revenues well before its move into a more permanent and large scale facility."