SELLERSVILLE, Pa., Aug. 2, 2006 (PRIMEZONE) -- Delta Mutual, Inc. (OTCBB:DLTM) specializing in energy recovery and construction services through environmentally-friendly technologies and products, announced that its subsidiary, Delta-Envirotech, signed a Letter of Intent with SEPCO Environment (Saudi Gulf Environmental Protection Company) to supply equipment to recover silver from used X-ray film in Saudi Arabia.
The equipment purchase contract is subject to the approval of the Saudi environmental authority (PME). Arrangements are being made for PME inspectors to visit a facility in Pennsylvania in late August where this equipment is in operation. The value of the contract is estimated to be in the range of $1.3 to $1.6 million, based on the final configuration of equipment when ordered. The equipment is designed to process about 1.5 million metric tons of used X-ray film annually. Operations are anticipated to begin during the first quarter of 2007.
Peter Russo, President and CEO, commented, "We are very pleased to move forward on the August 25, 2005 agreement to provide SEPCO with technology to recover silver from used X-ray films that we announced last year. Our alliance relationship with SEPCO continues to strengthen. This has resulted in the ongoing expansion of our activities to introduce new technologies for projects that address hazardous wastes and other forms of environmental contamination."
About the Saudi Gulf Environmental Protection Company (SEPCO)
SEPCO Environment, established in 1997, was the first, and remains the only company in the Middle East to handle and process medical waste. It has set up a program for the safe handling, transportation, treatment and disposal of hazardous medical waste in a way that is permanent, environmentally responsible and affordable. SEPCO currently owns and operates three medical waste facilities in Saudi Arabia, and is moving towards achieving more success in various environmental activities. For additional information, please visit their web site at www.sepcoenv.com.
About Delta Mutual
Delta Mutual, Inc. (www.deltamutual.com) specializes in energy recovery and construction services through environmentally-friendly technologies and products which are currently operating in the Middle East and Far East. Delta employs technologies that efficiently recover energy sources from soil, water and other waste streams, while simultaneously improving existing environmental conditions. The Company also utilizes energy efficient and cost effective building material systems for construction projects.
Forward Looking Statement
This Press Release contains forward-looking statements that involve risks and uncertainties, which may include statements about business strategy and development plans, plans for entering into new business, anticipated sources of funds, including the proceeds from future operations and plans, objectives, expectations and intentions contained in this Press Release that are not historical facts. Forward looking statements include "The value of the contract is estimated to be in the range of $1.3 to $1.6 million, based on the final configuration of equipment when ordered. The equipment is designed to process about 1.5 million metric tons of used X-ray film annually. Operations are anticipated to begin during the first quarter of 2007." Risk factors associated with these forward-looking statements include: raising the necessary capital to finance the facility, government approvals, the market for crude oil, processing efficiency, doing business in Saudi Arabia and other risk factors as outlined in the Company's SEC filings. Because these forward-looking statements involve risks and uncertainties, actual results could differ materially from those discussed in this Press Release. These risks are outlined in our SEC filings.