TUCSON, Ariz., Feb. 23, 2004 (PRIMEZONE) -- Environmental Technologies, Inc. (Pink Sheets:EMTI) is pleased to announce that it has appointed Munir Al-Sarraj, P.Eng. to fulfill the position of Director of Marketing for the Middle East region. Mr. Al-Sarraj is a highly successful businessman who has gained a wealth of experience and earned an enviable reputation during his more than 30 years in the fields of engineering, senior management and business development throughout the Middle East and elsewhere. Consequently, Mr. Al-Sarraj has strong ties to the international business community throughout the entire security-conscious Gulf region.
His initial efforts will focus on the establishment of a network of distributorships throughout the area, and to participate in the market introduction of Computer Guard, the Company's first security product scheduled for commercial launch this spring.
Upon acceptance of his new position, Mr. Al-Sarraj noted, "Following preliminary discussions with key business associates throughout the region, I feel very confident that the EMTI security technology has extremely attractive potential for a variety of applications throughout the Middle East."
Environmental Technologies president John Hedges commented, "Given the tremendous market potential that we have long-recognized exists for our proposed line of security products throughout the Middle East, our Company is indeed fortunate in having Mr. Al-Sarraj on board to head up its marketing efforts in this high-potential region."
Computer Guard directly addresses what has emerged in recent years as an international epidemic: theft of laptop computers and the countless billions of dollars of valuable and critical data they contain. Laptop computer theft results in two distinct types of loss: the value of the actual hardware, usually $2000 - $3000 per unit (the FBI estimates that 97% of stolen computer equipment is never recovered); and the much higher cost of the lost data contained on the laptop's hard drive. Value of hard-drive data can be seen in terms of the enormous costs of replacing/restoring such data or, even more critical, in terms of what that data can cost the originating company or government if it falls into the wrong hands. It is generally recognized that business-critical, proprietary confidential corporate data lost to potential competitors through laptop theft could amount to tens of billions of dollars in costs.
Environmental Technologies' products currently being developed for specific market applications include short and long-range detection devices that can be hidden in clothing, or on valuables, and that will emit signals to loved ones or owners of articles.
The "Kinder Finder and Elder Finder," plus the "Kinder Guard and Elder Guard," technology provides a capability that is ideal for families living in fear of their children being kidnapped, or of having elderly family members, suffering from dementia or any other form of memory loss, wander off aimlessly without their loved one's knowledge. Alarmingly, kidnapping in North America has risen to an all-time high of over 800 persons per day.
"Find-A-Shipment," enabling real-time shipment tracking is another promising application under development, and the introduction of a device that will be embedded in credit cards, passports, etc, to thwart theft and quickly locate lost cards is expected to follow. We believe that our product range admirably addresses these growing security needs, and that the marketplace will enthusiastically receive them as they are introduced.
The statements made in this press release, which are not historical facts, contains forward-looking statements concerning potential developments affecting the business, prospects, financial conditions and other aspects of the company to which this release pertains. The actual results of the specific items described in the release, and the company's operations generally, may differ materially from what is projected in such forward- looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward- looking statement.