SOURCE: Crivello Group, LLC

May 31, 2005 11:10 ET

Crivello Group, LLC Announces Termination of All Agreements With ICF Industries, Advanced Fuel Chemistry, Inc., and Ray Thomas Petroleum, Inc.

POMPANO BEACH, FL -- (MARKET WIRE) -- May 31, 2005 -- Crivello Group, LLC ("CG") provided ICF Industries, a UK-based company, Advanced Fuel Chemistry, Inc., a Delaware corporation, and their management including Ian Williamson and Cliff Hazel (collectively "AFC") with consulting services relating to, among other matters, a prospective merger with a public company and financing for the combined entities.

Earlier this month, CG announced that AFC entered into a definitive agreement with Ray Thomas Petroleum Inc. and its affiliates ("RTP") to acquire one hundred percent of its outstanding stock in a stock for stock tax free acquisition. The RTP sellers included: Ray Thomas Petroleum Company, Inc., a North Carolina corporation, ("RTP"), Sunbelt Petroleum, Inc., a North Carolina corporation ("Sunbelt"), Franco Energy, LLC, a North Carolina limited liability company ("Franco"), and L. Ray Thomas, an individual and the majority shareholder of RTP, sole shareholder of Sunbelt and the sole member of Franco.

Today CG announced that it terminated all relations and agreements with AFC, RTP, and their affiliates due to material disagreements with AFC and its management relating to the acquisition of RTP.

About Crivello Group, LLC

CG is a strategic advisor and partner to distressed and emerging companies. CG's solutions for distressed or emerging companies includes:

--  Stabilization
--  Capital & Debt Alternatives
--  Staff, Boards, and Professionals
--  Divestiture & Dissolution
--  Plan of Restructuring or Reorganization
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of CG could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.

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