January 03, 2008 14:29 ET

Phase Separation Solutions Signs Major Service Agreement in the Pharmaceutical Sector

CALGARY, ALBERTA--(Marketwire - Jan. 3, 2008) - Phase Separation Solutions Inc. ("PS2"), a wholly owned subsidiary of West Mountain Capital Corp. (TSX VENTURE:WMT) is pleased to announce the signing of a major service agreement with a manufacturer in the pharmaceutical and health care sector. The Agreement covers a two-year term and represents an opportunity to increase the annual volume for treatment at PS2's state-of-the-art treatment facility in Wolseley, Saskatchewan. PS2's new client is a major international manufacturer with operations in over 100 countries including a presence in Canada that spans over 100 years with global revenues approaching $6 billion. Its operations in Canada include facilities located in Central and Western Canada producing essential medications for both human and veterinary application.

PS2 is an established national waste management and remediation service provider that began managing pharmaceutical waste from across Canada in 2007 and has experienced a very positive response to its exclusively licensed alternative treatment technology. It now adds this new service agreement to its list of major pharmaceutical and consumer product client base. Under the terms of this agreement PS2 will provide collection, transport and secure disposal for a variety of prescription medications and over-the-counter consumer products from across Canada.

PS2 uses a proprietary thermal system that allows it to reduce the environmental footprint associated with destroying pharmaceutical waste while recovering oil from plastic packaging and generating synthetic natural gas that it uses to sustain the process. "PS2's technology is a revolutionary application of this internationally deployed technology and a major shift in the way this waste stream is managed in North America. Clients are accustomed to landfilling and incineration of these materials but in recent years have begun looking, aggressively, for greener alternatives," says Paul Antle, President and CEO. "Companies across North America are responding very positively to our innovative technology and our ability to turn, what is for them, a waste liability into a reusable resource", he added.

About Phase Separation Solutions:

PS2 is an established Canadian company specializing in thermal treatment of a variety of hazardous and non-hazardous waste streams. It employs a unique indirectly heated, closed loop technology that allows it to extract even the most hazardous contaminants from soil, industrial sludge, paint and consumer waste streams converting much of it into reusable oil. PS2's management team maintains expertise in hazardous waste management, brownfield remediation and the pharmaceutical waste management with experience spanning North America and internationally throughout 14 countries.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The company does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy of this release.

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