SOURCE: Tire International Environmental Solutions, Inc.

August 25, 2010 09:00 ET

Tire International Environmental Solutions, Inc. (OTCBB: TRIE) Signs Letter of Intent to Purchase 35 Acres of Industrial Property at the KIPC in Pennsylvania

NEW YORK, NY--(Marketwire - August 25, 2010) -  Tire International Environmental Solutions, Inc. (OTCBB: TRIE) announced today that it has signed a Letter of Intent with USS Real Estate, a division of US Steel for the acquisition of 35.33 acres of industrial property in the Keystone Industrial Port Complex ("KIPC"), located in Falls Township, Bucks County, Pennsylvania. The initial purchase price for the land, estimated at $4,416,250 (roughly $125,000 per acre) has been secured by a down payment made by Tire International Environmental Solutions, Inc. (the "Company"). The letter agreement with USS Real Estate now allows the Company to begin the process of proceeding forth with due diligence, including environmental review and furthering its plans to use the industrial property to construct a state-of-the-art, waste to value, tire recycling facility at the KIPC, which, when completed, will enable the Company to recycle waste tires of nearly every type known from passenger to large industrial, and produce a high quality finished consumer product made from virgin recycled rubber.

Management of the Company anticipates the Company will enter into a definitive purchase and sales agreement with USS Real Estate before year end and believes this property offers the highest and best use of constructing its planned facility utilizing TIRES S.p.A. proprietary waste to value tire recycling technology. On July 19, 2010, the Company previously announced its joint venture agreement with TIRES S.p.A. outlining, among other things, the joint ownership of TIRES' state-of-the-art tire recycling plant, method and installation of recycling of used tires for conversion into finished products (the "Waste to Value Technology") for North America and the installment purchase of a full line of Waste to Value Technology equipment for an 8+ million tire per year recycling facility, TIRES will own approximately 8 million shares of the Company's common stock in exchange for approximately $4 million in capital expense contribution out of equipment costs under purchase of approximately $13 million.

Antonio Care, CEO of Tire International, stated, "With the purchase of the property at KIPC, and the construction of the proposed state-of-the-art facility utilizing the TIRES S.p.A. process equipment, there is no doubt in my mind that the Company can become a leader in waste-to-value, green technology, and become one of the top tire recyclers in North America."

About Tire International Environmental Solutions, Inc.

Tire International Environmental Solutions, Inc. is a U.S. based company that is currently in the process of building its first state-of-the-art tire recycling, and waste-to-value facility in the State of Pennsylvania. In addition to the planned facility in Pennsylvania, the Company is actively seeking additional opportunities for the deployment of next generation tire recycling equipment for removal of harmful waste tire stockpiles and the production of finely crafted value added products, both of which are much needed in the fast growing green technology and tire recycling industry. The Company plans on becoming a leader in the new age North American movement of clean green recycling technology and value added manufacturing. The Company is committed to pursuing its plan on building several large scale tire recycling, waste-to-value facilities in North America and in doing so, create new jobs while reducing the harmful waste tire stockpiles across the Continent. As an American enterprise, the Company plans on continuing towards its goal of becoming an American manufacturer of finished products available for export and domestic consumption.

For more information on Tire International:   www.tireinternational.net
     
For more information on TIRES S.p.A.:   www.tiresspa.com
     
For more information on USS Real Estate:   www.ussteel.com/corp/facilities/real-estate.asp
     
For more information on KIPC:   http://www.kipctv.com/
    http://www.fairlesskoiz.com/index.html

Forward-Looking Statements

This release contains "forward-looking statements" and information provided by Tire International Environmental Solutions, Inc., such as online, printed documents, publications or information available via Tire International Environmental Solutions, Inc's website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause Tire International Environmental Solutions, Inc's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words, including but not limited to, statements regarding corporate plans, strategies and objectives of management; statements regarding products, services or developments; statements regarding future economic conditions; and assumptions underlying any of the foregoing.

Contact Information