Consolidated Ecoprogress Technology Inc.

Consolidated Ecoprogress Technology Inc.

October 23, 2006 15:49 ET

Consolidated Ecoprogress Technology Inc.: October Update-Shipments Exceeding US$150,000

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 23, 2006) -

Mr John Banks reports:

Consolidated Ecoprogress Technology Inc. (TSX VENTURE:CES) is pleased to provide a progress report that production and delivery timelines are on schedule for the month of October. The equivalent of 1 container of product was shipped up to October 21 and a further 2 containers are scheduled for dispatch by October 31. At present, production and shipments are approximately 3 to 4 containers per month. November shipments are on schedule for approximately 4 containers of Flushaway™ product. Working capital is the primary constraint to increasing production and shipments. The recently announced private placement is expected to close shortly. Cash in hand will be used to increase the amount of containers to be produced and shipped. Presently, our sales order book is in excess of US$1,200,000. Monthly shipments are on target to exceed $150,000 a month. Future sales are expected to grow based on estimates from each of our distributors in China or Australia. This amount does not include orders or possible orders from other distributors such as Dr. Fresh, SPD (Homeland Security) or South Africa.

With new funding, the company will begin to use new materials developed by Quartek that is expected to increase our gross profit from approximately 20% to approximately 40%. Presently, 8 containers a month are needed for the company to be cash neutral. At a 40% gross margin, approximately 4 containers a month are needed to be cash neutral.

Flushaway™ pads and liners are now carried in K-Mart in the US and Priceline in Australia. Product is also available in South Africa and the US Marines Corps worldwide.

Ecoprogress is diligently working on becoming a lead player in environmentally friendly, absorbent and plastic replacement products. Its first branded product, Flushaway™, provides women with the choice of a flushable feminine hygiene product.


John Banks, CEO and President

Consolidated Ecoprogress Technology Inc.

Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the TSX-V and on SEDAR.

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

Contact Information

  • Consolidated Ecoprogress Technology Inc.
    John Banks
    CEO and President
    (604) 738-7015 or Toll Free: 1-888-326-7764
    (604) 738-7051 (FAX)