SOURCE: Grifco International, Inc.

April 28, 2005 08:00 ET

GFCI Heads for Offshore Technology Conference '05

HOUSTON, TX -- (MARKET WIRE) -- April 28, 2005 -- Grifco International, Inc. (OTC: GFCI), a provider of oil and gas services equipment to the worldwide oil and gas industry, will attend the Offshore Technology Conference 2005 at the Reliant Center in Houston, Texas from May 2-5, 2005.

"A Sea of Resources. An Ocean of Knowledge" is the theme for the 2005 Offshore Technology Conference. The Offshore Technology Conference is a unique opportunity to:

--  Meet with hundreds of vendors offering everything related to offshore
    oil and gas
--  Listen to hundreds of technical papers sharing field experience and
    technical developments
--  Learn about technologies recognized as innovations (through the
    Spotlight on Technology)
--  Network with individuals and companies who share your offshore
    challenges
    
Through all the new technology developments, political changes, and economic volatility of the oil and gas industry for the past three decades, the Offshore Technology Conference has grown into a stable and valued event for industry executives, engineers, managers, and scientists. From its debut at the Albert Thomas Convention Center in Houston in 1969 to its zenith in 1982 to the stabilizing 1990s, OTC has experienced and reflected the pulse of the offshore industry. The 1999 event boasted the second-highest attendance and exhibition since 1985.

"The ICoTA Exhibition was a tremendous success. Buyers reacquainted themselves with our product line, while having the first public opportunity to view the unveiling of our 'Jet Motor.' The response and interest, over one thousand inquiries, was quite positive," said Jim Dial, President and CEO of Grifco International, Inc. "We believe the contacts generated at the exhibit could generate rental revenue of approximately $10 million in 2005."

Grifco International will be at booth number 3724 exhibiting our line of tools, including the "Jet Motor." Grifco International executives hope to see old and new faces at our booth and demonstrate our Coil Tubing Tools, Perf-drill, Motors, Rotor Jet, Pulsator, Rotating Tool, and Corrosion Inhibitor Tool.

Founded in 1969, the Offshore Technology Conference is the world's foremost event for the development of offshore resources in the fields of drilling, exploration production, and environmental protection. OTC is held annually at Reliant Center in Houston, ranking among the largest 200 trade shows held annually in the United States and is among the 10 largest meetings in terms of attendance. In 2003, attendance exceeded 50,000, and more than 2,000 companies participated in the exhibition. OTC includes attendees from around the globe, with more than 110 countries represented at recent conferences. OTC is sponsored by 12 industry organizations and societies, who work cooperatively to develop the technical program each year. OTC also has two endorsing organizations and six supporting organizations. Please visit http://www.otcnet.org

Grifco International is a leading provider of oil and gas services equipment, specializing in the conception, architecture, and development of tools for the coil tubing, wire line, and snubbing industry throughout the U.S., China, Mexico and South America. Grifco's patented products are known and used throughout the world. In addition to our patented tools, Grifco designs and manufactures over 350 products for the Oil and Gas industry with a clientele boasting the biggest names in the business, including Halliburton, Exxon, and Schlumberger. Please visit www.grifco.org

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The Company cautions the assumptions, expectations, projections, intentions, or beliefs about future events may, and often do, vary from actual results and the differences can be material. Some of the key factors which could cause actual results to vary from those the Company expects include changes in natural gas and oil prices, the timing of planned capital expenditures, availability of acquisitions, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as our ability to access them, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting our business. More information about the risks and uncertainties relating to the Company's forward-looking statements are found in our SEC filings.

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