Napier Environmental Technologies Inc.

Napier Environmental Technologies Inc.

March 01, 2005 19:30 ET

Napier Announces New Product Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: NAPIER ENVIRONMENTAL TECHNOLOGIES INC.

TSX SYMBOL: NIR

MARCH 1, 2005 - 19:30 ET

Napier Announces New Product Release

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 1, 2005) - Napier
Environmental Technologies Inc. (TSX:NIR)

Napier today announced the launch of its new aviation stripper 'RemovALL
1012'.

RemovALL 1012 is the latest formula developed in a line of successful
and innovative strippers targeted primarily at the aerospace industry.
It is a unique product that combines a range of properties not
previously available to the refurbishment industry. The product is a
highly effective neutral pH peroxide stripper that is easily applied
with brush or spray and exhibits excellent vertical cling
characteristics.

"It is more stable than other peroxide strippers and unlike other
offerings in the market place passes all of the corrosion immersion
tests, sandwich corrosion tests as specified in the Boeing D6-17487,
"Revision P" corrosion specification, and hydrogen embrittlement
requirements of D6-4307 with no exclusions," said Dr. Brian Morse, Vice
President, Research and Development.

"RemovALL 1012 will provide our clients with a solution to satisfy major
airlines from a corrosion test perspective and performance standpoint.
1012 will provide the ability to strip both Boeing and Airbus paint
systems completely to the metal substrate," said Todd Cottrell, Manager,
Aviation Group.

Napier is in discussions with potential partners for the distribution of
its aviation product and will be demonstrating '1012's' performance
characteristics early in March.

Napier cautions shareholders to read this press release in conjunction
with the implications of its current operating status, which is that it
has filed for protection under the Bankruptcy and Insolvency Act and the
company's final status will depend on the creditor's acceptance or
rejection of a proposal it anticipates making in the future.

Napier develops and manufactures highly effective, safe and
environmentally advantaged surface preparation products for stripping
paints and coatings, as well as a complete line of wood restoration
products. Napier's products are protected by a portfolio of patents and
trademarks, including 'Bio-wash and RemovALL'...

This press release contains statements that are forward-looking in
nature. Such statements involve known and unknown risks and
uncertainties that may cause the actual results of Napier to be
materially different from those expressed or implied by those
forward-looking statements. Such risks and uncertainties include, among
others: the Company's status under the Bankruptcy and Insolvency Act,
general economic and business conditions, product selling prices, raw
material and operating costs, changes in foreign-currency exchange rates
and other factors referenced herein and in the Company's Financial
Statement for the period ending September 30, 2004, within the
Management Discussion and Analysis, under the heading "Risk Factors and
Financial Management".

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Napier Environmental Technologies Inc.
    Lionel Dodd
    Chairman, Board of Directors
    (604) 526-0802
    or
    Napier Environmental Technologies Inc.
    Wayne J. Henderson
    (604) 526-0802
    investor@napiere.com
    www.napierenvironmental.com
    The Toronto Stock Exchange neither approves or disapproves the contents
    of this news release which has been prepared solely at the discretion of
    management.