SOURCE: Beacon Redevelopment Industrial Corp.

November 30, 2010 03:14 ET

Beacon Redevelopment Industrial Corporation Addresses Ground Contamination in Grapeville, Hempfield Township

GRAPEVILLE, HEMPFIELD TOWNSHIP, PA--(Marketwire - November 30, 2010) - Beacon Redevelopment Industrial Corp. (PINKSHEETS: BCND) reviewed an article in the Greensburg Tribune Review that addressed an ongoing problem with an oily substance appearing in residents' lawns in Grapeville, Hempfield Township, Pennsylvania.

The article insinuated that the source of the contamination was Beacon's glass factory in Grapeville. The article erroneously referred to the factory as abandoned.

Beacon has spent significant resources clearing the property of debris and preparing the factory for demolition. Environmental studies were conducted and there is only a minimal amount of asbestos contamination in isolated areas of the factory. Beacon has not conducted any activities which would disrupt the soil.

The property is staffed at least four days per week.

The ground at the factory is solid and there is no logic to the faulty assumption that any "oily" substance is coming from the factory. The factory has not conducted industrial operations for thirty years.

Rick Blackburn, Beacon's President, spoke with agents of the Pennsylvania Department of Environmental Protection several weeks before the article. Blackburn advised the DEP of possible locations where contamination may have originated, but none on Beacon's property. The DEP was invited to make an appointment to conduct any testing it desires.

Similarly, if Hempfield Township or Westmoreland County officials desire to participate in any testing, they should contact the company. No person, including city and county officials, may lawfully enter our property without a staff member being present. "Nobody has contacted Beacon and requested to conduct testing, but I spoke with the DEP several weeks ago about the problem and it's extremely unlikely -- if not impossible -- that the source is the glass factory property. Residents experiencing any pollutant should immediately contact the appropriate officials and ask the Township to investigate rather than make assumptions," said Rick Blackburn.

This release does not constitute an offer of securities for sale. This release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve certain risks and uncertainties that could cause actual results to differ. All statements in this press release are based on information available to the company as of the date hereof.

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