CARLSBAD, Calif., Dec. 03, 2003 (PRIMEZONE) -- Sub-Surface Waste Management of Delaware, Inc. (OTCBB:SSWM), a subsidiary of U.S. Microbics Inc. (OTCBB:BUGS), announced it has retained the services of Summa Investment Partners, Inc. and its principal, Drew Park, a senior environmental industry executive with over thirty years of solid operating, marketing and financial experience and track record of accomplishments with both merger and acquisitions as well as domestic and international operations and business development.
Bruce Beattie, CEO of SSWM stated, "Drew Park was the Senior Vice President at International Technology Corporation (NYSE:ITX), responsible for executing its acquisition roll-up plan that added over $1 Billion in revenues over a 30 month period. Concurrently, Drew was also in charge of ITX international business development in Europe, Asia and Latin America during this same time. Prior to ITX, Drew was Executive Manager-Corporate Development for Fluor-Daniel Corporation (NYSE:FLR) where among many duties he directed the sale of several operating divisions in separate transactions, these divestitures included Metal Distribution, Oil and Gas, Offshore Petroleum drilling and Real Estate assets. Total purchase prices exceeded $200 million. We are very pleased to have retained Drew to lead our M&A team to build our revenue and earnings base with strategic acquisitions in the U.S."
About Sub-Surface Waste Management
A subsidiary of U.S. Microbics, Sub-Surface Waste Management Inc. provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies. SSWM is capitalizing on its patent and patent-pending technology by forming strategic alliances and joint ventures with well-established engineering firms.
Investors and media contact Bruce Beattie at 760/918-1860, ext. 105 or bbeattie@bugsatwork.com; or learn about the company by visiting its Web site at www.bugsatwork.com. A research report on SSWM is available at www.stocksontheweb.com/sswm.htm.
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request.