DEERFIELD BEACH, Fla. and NAPOLEONVILLE, La., March 12, 2008 (PRIME NEWSWIRE) -- Red Reef Laboratories International, Inc. (Pink Sheets:RRLB), a diversified scientific research, development, and marketing group focused on commercializing a variety of chemical and biological products, takes this opportunity to thank the South Central Planning and Development Commission (SCPDC) of Louisiana for funding an environmental assessment of Red Reef's Napoleonville, LA site. The property was formerly known as the Supreme Sugar Plantation.
The assessment will be funded under a U.S. Environmental Protection Agency Brownfields grant to SCPDC. The purpose of the Brownfields program, based on an amendment to federal Superfund legislation, is to return to commerce properties with real or perceived environmental issues.
"This assessment adds value to the site and is a necessary first step for Red Reef to put this valuable asset to use for our shareholders," Peter Versace, Exec VP is quoted. "We're beginning to feel the excitement," he continued.
Red Reef intends to develop the 84 acre Supreme site as a Medical Research and Cultural Center. The Baltimore based architectural and design firm of Whitney, Bailey, Cox and Magnani has been retained to design and assist in developing the project. Initial renderings depict three lakeside buildings to be added incrementally as need develops. The grounds will be designed in a campus like environment to include housing, hotel and spa accommodations, and recreational, cultural and meditative amenities.
Red Reef, in looking to the future development of the region, intends to set the tone for the area by introducing an upscale facility designed to serve and interact with the community.
"We are proud and humbled to be given this opportunity to provide a meaningful contribution toward what we believe the region is destined to achieve. Red Reef, essentially a green company, is always mindful of the concerns of the community and will continue to include our neighbors and citizens in decisions which may affect their quality of life and pride in the great state of Louisiana," Dr. Claus Wagner-Bartak stated.
About Red Reef Laboratories International, Inc.:
Red Reef Laboratories International, Inc. is a diversified scientific research, development, and marketing group established to assemble, develop, commercialize and bring to market a variety of chemical and biological products, utilizing advanced surfactant technology and increasingly "green" compounds. These series of products are specifically designed for biocidal and virucidal applications. For more information, please visit the Company's web site at www.redreef.biz
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.