NEW YORK, Feb. 24, 2006 (PRIMEZONE) -- New Generation Holdings, Inc. (Pink Sheets:NGPX) is pleased to announce that its wholly owned subsidiary New Generation Plastic, Inc. ("NGP") has entered into a research and consulting agreement with the Polymer Service Centre at Groningen, the Netherlands.
Polymer Service Centre B.V. ("PSC") is a unique service-providing research center focusing on polymers and their applications (www.polymer.nl). Working with highly skilled polymer experts and state-of-the-art facilities, PSC provides high-level support to companies for innovations and solutions in the multidisciplinary field of polymeric materials. PSC was founded in 1996 as a spin-off activity of the University of Groningen. PSC is a private company; its main shareholder is the Groningen University Holding.
"Together with PSC, we believe we have the technology, know how and experience necessary to deliver highly performing compounds," Jacques Mot, CEO of NGP, commented.
About New Generation Holdings, Inc.
New Generation Holdings, Inc. is a platform to build shareholder value through the acquisition and development of businesses and technologies. The company's present focus is restricted to the plastic industry. The company is incorporated in the State of Delaware (U.S.) and its shares trade on the Pink Sheets market under the symbol "NGPX". New Generation Holdings, Inc. owns New Generation Plastic, Inc. (www.newgenerationplastic.com). New Generation Plastic, Inc. has offices in New York. New Generation Plastic, Inc. owns and develops a patented and proprietary plastic blending technology. NGP has built several prototypes in France and intends to build its first commercial plant in the U.S.
New Generation Holdings, Inc. 245 Park Avenue, 39th floor New York, N.Y. 10167 Telephone: (1) 212 7924030 Facsimile: (1) 212 7924001 E-mail: info@ngpx.com
About Polymer Service Centre B.V.
Polymer Service Centre (PSC) serves the industry by providing high-level R&D support for realizing innovations and optimal solutions in the field of polymeric materials, products and processes.
Nowadays, polymers rapidly develop from construction plastics to high-tech materials and allow for tremendous opportunities. PSC wants to play a central role in creating these opportunities and turn those in profit for the benefit of its customers and stakeholders.
PSC commercializes services that include material development, material selection, material synthesis and supply, material testing and analysis, material reviews and concept generation. PSC is specifically strong in critical appliances of polymeric materials with a high need for knowledge.
Polymer Service Centre was founded in 1996 as a spin-off of the University of Groningen, the Netherlands. PSC is a private company; its main shareholder is the Groningen University Holding.
Polymer Service Centre B.V. Kadijk 7D NL-9747 AT Groningen The Netherlands Telephone +31 50 368 0777 Facsimile +31 50 368 0779 E-mail: Info@polymer.nl Internet: www.polymer.nl
The statements contained in this press release of New Generation Holdings, Inc. (the "Company") that are not based on historical fact (including statements regarding proprietary technology) are "forward-looking statements." Such forward-looking statements involve risks and uncertainties, including but not limited to: (i) the Company's operations have been dormant until recently, (ii) the Company's lack of liquidity and need for additional capital which it may not be able to obtain on favorable terms or at all, (iii) the "going concern" qualifications that accompanies the Company's financial statements, which, among other things, may make it more difficult for the Company to raise the additional capital that it requires in order to remain in business, (iv) the substantially greater resources available to many of the Company's competitors, (v) the Company's expectation that it will continue to operate at a loss for the foreseeable future, (vi) the fact that the Company's lack of capital substantially restricts its flexibility and opportunity to increase its revenues, (vii) the importance to the Company that its offerings remain technologically advanced, (viii) risks associated with potential intellectual property claims, and (ix) the impact on the Company's business and industry of general economic conditions and regulatory developments. Such risks and others are and shall be more fully described in the "Risk Factors" set forth in the Company's filings with the Securities and Exchange Commission. The Company's actual results could differ materially from the results expressed in, or implied by, such forward-looking statements.