LOS ANGELES, Feb. 14, 2006 (PRIMEZONE) -- The internationally-known Hangzhou Vocational Training College (HVTC) with long-standing relationships with some of the most successful large scale private horticultural and agricultural enterprises on the mainland has submitted a testing regime to Victor Industries (OCTBB:VICI) that will test the effectiveness of its products on over 100 plant genera. Of special interest to HVTC is our product, EnviroTurf. Tens of square miles of Beijing will be put under sod and turf for the 2008 Olympics. Concurrently, Bejing's clean water supply is under stress,and the build up of nitrates and phosphates primarily from fertilizer residue are increasingly evident in the water table of that great city. HVTC has expressed special interest in Victor's claim that EnviroTurf can effectively reduce water consumption by 50% and the need to fertilize by some 80%. Of interest also is a recently referenced, peer reviewed paper authored by Dr. Fredrick A. Mumpton, an acknowledged expert on zeolitic minerals, that reports in supervised scientific tests rice production showed increases of as much as 60% with the inclusion of the principal mineral in our product Envirolizer.
It is anticipated that substantial orders will result from the successful testing and accreditation of our products by HVTC
"Our merger negotiations with FSP continue on track and are expected to successfully conclude at the end of the current quarter. FSP's business appears to be expanding rapidly. It is the opinion of Victor's management, assuming the merger with FSP is completed, that Victor Industries will issue the present shareholders a stock dividend in a new company (Enviroteck Industrial Group Inc.) which will contain the present business and intellectual property of Victor Industries. Management will file the necessary forms to bring the new company public. In essence, post merger, the present shareholders of Victor Industries will hold shares in the two publicly traded companies, FSP and Enviroteck Industrial Group Inc. Simply put, current Victor shareholders will be given a 'two fer'."
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.