TUCSON, Ariz., Nov. 5, 2004 (PRIMEZONE) -- The Board of Directors of Environmental Technologies International, Inc. (Pink Sheets:EMTI) (EMTI) confirmed today that all EMTI shareholders of record on October 31, 2004 will be issued, on a pro-rata basis, a dividend in the form of shares of common stock of Finderguard Technologies, Inc., EMTI's wholly owned subsidiary. Said shares in Finderguard Technologies, Inc., shall be delivered upon the Securities Exchange Commission declaring effective EMTI's registration statement registering the distribution of the Finderguard Technologies, Inc. shares. No date of the filing and effectiveness of the registration statement can be provided at this time; however, only those EMTI shareholders of record on October 31, 2004 shall be eligible for issuance and delivery of the new shares. The President of EMTI, Mr. Harold Clifford, stated, "We believe that this is a very positive position for all shareholders at this time. We, like our shareholders, look forward to the future growth of both EMTI and Finderguard Technologies, Inc."
Increased problems and complaints of unhealthy Indoor Air Quality have plagued many building owners, designers, constructors, operators and occupants since the 1970s Oil Embargo, which saw a rapid and dramatic reduction in building ventilation rates in order to reduce energy consumption. In cold winter climates such as in the Northern U.S., heating incoming, fresh 'outside air' while exhausting warm 'inside air' was suddenly very expensive, and dramatically reducing the flow rate of cold fresh air from the outside became the easiest way to immediately save on heating costs. The same remedy to high oil prices was adopted in the hot climates of the South: air-conditioning costs had similarly zoomed upwards because of the oil embargo. The cost of cooling hot in-take air skyrocketed, thus prompting building operators en masse to reduce circulation rates. Circulation rates and the flow of fresh air into buildings weren't reduced by just 10 or 20 percent, but by 60 or 70 percent.
This greatly lowered energy costs for HVAC -- Heating, Ventilation, and Air-Conditioning -- in the new era of very expensive energy, but it also simultaneously lowered the quality of Indoor Air in buildings across the Continent and 'opened the door' to the myriad problems with IAQ that so many of us are now sadly familiar with. OSHA -- the Occupational Safety and Health Administration -- had at one point estimated that some 21,000,000 people a year in the United States were affected by indoor pollution.
The Company's AWE technology has the demonstrated ability to virtually eliminate building mold and, by improving ventilation, significantly reduce the amount of pollutants in a building's 'atmosphere'. It will materially improve Indoor Air Quality with a system that will also reduce electrical costs, thus paying for its installation in the near term, and lowering overall building-operation costs over the long term.
In compliance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, EMTI notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties. Accordingly, EMTI wishes to caution readers of this announcement that its future actual results may differ materially from those that any forward-looking statements may imply. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future.